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Dubai Investments plans flagship project in Africa

By Gavin Gibbon
A view of Angola's capital Luanda. The Dubai Investments mixed-use development will be built around 50 km from the city Eric Lafforgue/Hans Lucas via Reuters Connect
A view of Angola's capital Luanda. The Dubai Investments mixed-use development will be built around 50 km from the city
  • Investor launching in Angola
  • 2,000 hectares under development
  • Offering retail, residential and leisure

UAE investment group Dubai Investments has revealed details of its first flagship mixed-use development in Africa.

The company is creating Dubai Investments Park Angola, a 2,000 hectare residential, commercial and industrial hub in the West African country.

The project, based 50 kilometres from the capital Luanda in Bengo Province, includes an 18-hole golf course and housing near retail and industrial sites as well as communal parks and leisure facilities.

Khalid Bin Kalban, vice chairman and CEO of Dubai Financial Market-listed Dubai Investments, said the development was “the beginning of a journey towards global expansion”.

Dubai Investments will develop the infrastructure and lease land to developers and investors.

The project is not Dubai Investments’ first in Africa – in July last year it announced plans with E20 Investment, an Abu Dhabi agribusiness investment company to develop 3,750 hectares in Angola.

The flow of capital from the GCC into Africa is increasing, spreading from only East Africa initially to Angola, Nigeria, Ghana and South Africa, according to Standard Bank Group CEO for Middle East and North Africa, Rassem Zok.

UAE exports to Angola reached $364 million in 2021, according to the Observatory of Economic Complexity, made up mainly of cars ($107 million), delivery trucks ($23.3 million) and refined petroleum ($17.1 million).

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