Luanda — Dubai Investments has signed an agreement with Angola’s Sovereign Wealth Fund (FSDEA) to jointly develop major real estate projects in Luanda Province, marking a significant step in strengthening economic ties between the UAE and Angola.
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 focus on sustainable urban growth, beginning with Cazanga Island in the Luanda Archipelago. The first phase will feature housing, tourism, and city infrastructure projects, designed to build modern, livable communities. FSDEA will participate through a company holding land rights, while Dubai Investments will provide its real estate development expertise.
FSDEA Chairman Manuel said the agreement underscores the fund’s mission to attract global investment and expertise into Angola’s real estate and tourism sectors. For Dubai Investments, this marks its second major project in Angola, following its earlier DIP Angola mixed-use hub, modeled after its flagship project in the UAE.
Dubai Investments continues to expand its real estate footprint. Current projects include Asayel Avenue at Mirdif Hills, launched in June 2025, Danah Bay villas on Al Marjan Island, now in handover phases, and Violet Tower in Jumeirah Village Circle, which is 26% complete and on track for delivery in Q2 2026.
The partnership comes as UAE-Angola trade surges. In the first half of 2025, bilateral trade reached $1.4 billion, up nearly 30% year-on-year, with UAE non-oil exports to Angola totaling $135.6 million. Angola exports diamonds, gold, copper, and grains, while the UAE exports petroleum products, iron and steel, cigarettes, and perfumes.
Other Emirati firms are also investing in Angola. Masdar is developing a 150 MW solar plant to supply power to 90,000 homes, while AD Ports Group 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 boost annual trade beyond $10 billion by 2033, add $1 billion to both economies, and create 30,000 jobs, reinforcing the strategic partnership between the two nations.
