According to the announcement made by the chairman of the Board of Directors (PCA) of the company, Massada António Kulembala, the financing is with own funds and will be built in phases.
"The funding for the Raiz do Quimbo project is own funds and will be built in several phases. The first phase will have to disburse seven billion kwanzas", said the official, speaking to Rádio Nacional de Angola (RNA).
The group's CEO also informed that the laying of the first stone of the project, to be built in the Centralidade do Kilamba area, will take place on the 5th of September.
"Over three years we prepared the project, recruited the workforce, selected the staff and now on the 5th it was time to 'get down to business'", said the official.
To be built on an area of 40 hectares, the project will include 550 T4 houses as well as 160 infrastructures for commerce: "It will be built on a plot of 40 hectares, we are talking about 550 houses and 160 commercial buildings".
Cited by RNA, the official explained that the houses "will be built in stages", and in a first phase the company will build around 200 houses annually. "Our construction plan is quantified in this proportion: 200 or 250 houses that we are going to build during the year", he informed.
Massada António Kulembala also informed that the dwellings will be built in lots of 20 by 30, which corresponds to 600 square meters, adding that they will be T4 dwellings "with four suite bedrooms", as well as a kitchen, pantry, living room and 300 meters yard squares and services.
The group's CEO clarified that the initiative is divided into "two fractions", with the first referring to the residential area and the second to the commercial area.
"The project is divided into two fractions. The first fraction is the housing park and the second fraction is the commercial park", where they will "insert buildings with four floors above the ground and build buildings with bungalows" to put hypermarkets, a clinic, a college and a medical center, he said, quoted by RNA.
Regarding the work, the official informed that they will have a workforce of 3,000 people in various specialties: "Three thousand men, in various specialties", namely "carpenter, joiner, plumber, electrician", along with the administrative team.
Speaking to RNA, he also mentioned the value of the sale of the houses, explaining that they will sell each house on notice 9 of the BNA. "We were thinking at the time of selling 200 million the house, but after notice 9 we restructured our project, we are going to sell the house in the order of idea between 100 to 95 million kwanzas", he added.