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Real Estate

Government will spend 46.2 million dollars to rehabilitate properties reclaimed by the state

The government will spend $46.2 million to rehabilitate a number of state-reclaimed buildings that have been "severely vandalized."


The buildings are part of a batch of over a thousand properties built with public funds, seized in February last year by the Attorney General's Office as part of the process of recovery of assets that were in possession of China International Fund Limited, a company that has been linked to the former president of the state oil company and former vice president, Manuel Vicente.

In a presidential order published in the Official Gazette on August 17, the President of the Republic, João Lourenço, referred to the "high concern of the executive in implementing housing projects" to "reduce the existing deficit" and pointed out the need to rehabilitate a set of buildings located in Urbanização Vida Pacífica (Luanda) that are "part of the private property of the State and that have been severely vandalized".

At issue is a contract for the rehabilitation of 21 buildings with 15 floors and 112 apartments worth 2.2 million dollars, or a total of 46.2 million dollars.

"Considering the urgency required for the purposes of the public tender, the 21 properties are grouped into six lots in order to allow the execution of the work in a more expeditious manner," the diploma adds, indicating that the financial resources will be channeled through the Housing Development Fund.

In another presidential dispatch, João Lourenço, authorizes the opening of an emergency contracting procedure for the containment and stabilization of a ravine on Avenida Fidel de Castro (Luanda), "which is in a state of accelerated progression, potentially cutting off circulation, as well as unpredictable damage to the circulation of people and goods," as well as the imminent danger of a falling lamppost.

The contracts for the work in question, as well as its supervision, are estimated at around 21 million kwanzas.

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