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OPCA reinforces its presence in the Luanda Real Estate market PDF Print E-mail

New business venture kicks off in 2008

• The company presents its first real estate complex, Kualanda, which will be built in one year, and launches a new project in the Kinaxixi area, also in Luanda, estimated at over 100 million euros.

Filipe Soares Franco, Chairman of the OPCA Board, recently announced in Luanda, that a second real estate project is set to kick off in the very near future, representing an estimated investment of over 100 million euros (150 million US dollars).

This new project, located near Kinaxixi in Luanda, will reinforce the Portuguese company’s presence in this segment of the Angolan market. Next, will be a first building called Kualanda, recently presented to the market by OPCA, which will take a year to complete – a major part of this has already been sold.

According to Filipe Soares Franco, the enormous market response to this first building is due mainly to its “superior architectural quality”.

This Kualanda building, which represents an investment of over 35 million euros, is mainly for housing, with 4 underground car parks (130 cars), ground floor and mezzanine with 4 shops, 3 floors of office space,
40 apartments divided between 8 floors and a penthouse on the top – a total construction area of over
15.960 sq metres.

The construction of the second building will begin in 2008. This is a top quality project set in a prime location, in the same block in which the Torres Espírito Santo (Espirito Santo Towers) will be built. This new building will have 20 floors, including 6 underground floors – a total construction area of 30.000 m2.

Although OPCA has only recently entered the Luanda real estate market, it has been in Angola since 1992 involved in many construction works spread out through a number of regions: Cabinda, Kwanza Sul, Benguela, Huíla and Namibe.

To name some of these works: Repairs to the Cabinda and Lubango Hospitals, various railway bridges for the Benguela and Moçâmedes Railway lines, National Bank of Angola in Sumbe and Lubango.

We would like to highlight the construction of the Portuguese School in Luanda and the extensive work carried out in the removal of alluvion in the River Bero in Namibe (Moçâmedes).

When OPCA first entered the Angolan market, the company was involved in various projects such as building schools, housing, banks and sports centres amongst others.

The internationalization process and entering the Angolan market was a strategically important move for the company’s growth. OPCA is presently finalizing new projects for the Angolan market.

About OPCA

OPCA, Obras Públicas e Cimento Armado, S.A., an engineering, civil construction and public works company since 1932, is today one of the top five Portuguese construction companies.

Through its 75 years, OPCA has participated in a number of major national engineering works such as the Alcântara Maritime Station, the Cristo Rei statue, the Restauradores Park, the Estoril coast road, and the Pavilhão de Portugal in the Parque das Nações in Lisbon.

OPCA was also involved in the construction of the Hospital Central in Coimbra, the Matosinhos Hospital, the Funchal Airport extension, one of the most important construction works carried out in Portugal, and recently in some of the SCUT motorways. SCUT "Sem Custo para os Utilizadores" are government supported motorways “No cost to the users”

In the 90’s, OPCA invested strongly in diversification (consolidating the civil construction side, infrastructures and highly technical construction works, geotechnical and foundation engineering) and new business areas namely real estate, the environment (industrial waste management) and telecommunications (infrastructures).

ecause of this investment, OPCA is today, heavily involved in all areas of the construction business, and this simplified the internationalization process starting with Angola, Mozambique and more recently Spain.