Luanda — Dubai Investments has signed a landmark agreement with the Angola Sovereign Wealth Fund (FSDEA) to jointly develop large-scale real estate projects in Luanda Province, underscoring the UAE’s deepening economic ties with Africa’s second-largest oil producer.
The deal was formalized in Luanda by Khalid Bin Kalban, Chairman and CEO of Dubai Investments, and Armando Manuel, Chairman of FSDEA, in the presence of Manuel Canguezeze, Angola’s Secretary of State for Urban Planning.
The partnership will spearhead urban growth and sustainable development initiatives, beginning with Cazanga Island in the Luanda Archipelago. The initial phase will include housing complexes, tourism facilities, and city infrastructure projects. FSDEA will participate through a subsidiary holding land rights, while Dubai Investments will contribute its real estate expertise to create modern, eco-friendly communities.
“This agreement reinforces our commitment to bring international capital and know-how to Angola’s real estate and tourism sectors,” said FSDEA Chairman Manuel.
This marks Dubai Investments’ second venture in Angola, following its earlier DIP Angola mixed-use hub, modeled on its flagship UAE project.
Real estate growth strategy
Dubai Investments continues to prioritize real estate and financial services. Ongoing projects include:
- Asayel Avenue at Mirdif Hills in Dubai, launched in June 2025.
- Danah Bay villas on Al Marjan Island in Ras Al Khaimah, currently being handed over.
- Violet Tower in Jumeirah Village Circle, 26% complete and set for delivery in Q2 2026.
Strengthening UAE–Angola trade
Trade between the two countries is expanding rapidly. In the first half of 2025, UAE’s non-oil exports to Angola reached $135.6 million, while total trade surged to $1.4 billion, nearly 30% higher than in 2024.
Angola’s key exports to the UAE include diamonds, gold, copper, and grains, while the UAE exports petroleum products, steel, cigarettes, and perfumes. Other Emirati firms are also deepening their footprint in Angola: Masdar is developing a 150 MW solar plant to power 90,000 homes, and AD Ports has begun operating a multipurpose terminal at Luanda Port.
Looking ahead, the UAE–Angola Comprehensive Economic Partnership Agreement (CEPA) signed earlier this year is expected to raise annual trade above $10 billion by 2033, add $1 billion to both economies, and create 30,000 new jobs.
The Luanda real estate partnership reflects how sovereign-backed and private UAE investors are accelerating Africa-focused growth while supporting Angola’s urban modernization drive.
