Dubai Investments partners with Angola’s FSDEA on Luanda real estate projects: Dubai Investments partnered with Angola’s Sovereign Wealth Fund (FSDEA) to invest in large-scale real estate projects in Luanda, according to a press release (pdf). The partnership’s first phase will focus on developing Cazanga Island in the Luanda Archipelago.

Who’s doing what? The partnership structure will see FSDEA invest through a special purpose vehicle holding land rights, while Dubai Investments will oversee the development of the sites to convert them into sustainable urban and tourism projects.

We knew this was coming: Dubai Investments was reportedly planning to partner with FSDEA on Luanda projects, including residential and commercial towers and malls, with plans to set up a holding company with FSDEA and special-purpose vehicles for the upcoming projects.

This marks Dubai Investments’ second venture in Angola, after the USD 500 mn Dubai Investments Park Angola (DIP Angola) — a 2k-hectare mixed-use economic zone in Luanda currently under development over a 12-15 year timeline. The project will integrate industrial, commercial, residential, and recreational spaces. Dubai Investments’ pharma subsidiary Globalpharma will also set up a manufacturing facility in the zone focused on essential medicines.

The move comes after the UAE and Angola inked a trade and economic partnership agreement last month, aimed at boosting trade to USD 10 bn by 2033. President Mohamed bin Zayed’s state visit to Luanda also triggered several agreements spanning AI, banking, agriculture, renewable energy, and logistics.

What’s next? Looking ahead, the group is also eyeing new investments in Angola’s agriculture sector, alongside expanding its pharma footprint.

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