This project was built by the Angolan government in conjunction with China. Unfortunately, “Middle class Angolans” that were targeted by the development are almost non-existent. Thereby leaving all the flats empty. Angola doesn’t have a sizeable middle class to purchase these flats. Angola, Like many other African countries has a small extremely rich elite and a large peasant base at the bottom.
Before building residential “all in one estates” or futuristic “technology cities”, honest and objective feasibility studies should be taken. Just because Jose Eduardo Dos Santos had made a promise in 2008 to create a million new homes during campaigns for re-election, he decided to spend money on houses he knew wouldn’t sell. Maybe they’ll sell to Portuguese and Chinese expatriates. We hear about oversupply of houses and it sounds like a foreign concept. We could have more than enough people to buy the houses up, but do we have enough people who can afford them ?
Look at all this sweetness going to waste. Hio pesa (US$3.5 billion) ingegawiwa kila mtu anunue buroti ajipange kwengine ama anunue hometheatre, kisiagi akipenda, wherever the stereotype throws you
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A while back I saw similar scenario in China(ghost cities) . And worrying part is that thi is getting closer home. It’s just a matter of time. The amount of sensational highlight that ‘tu-boroti’ ads are getting especially in localised stations is worrying.
Angolans prefer owning homes that have compounds, guess the same thing with majority of Kenyans. We wanna grow some greens in the backyard and also keep a few chickens.
Maybe, He should have subsidized building materials with that USD3.5 billion and let people build homes of their choice.
There was a certain flat hapo Pangani towards Mlango in the mid to late 2000’s ilikaa for long kabla ipate watu. About four or five units were occupied by Eritreans and Ethiopian families.
Huku Juakali sides za Emba kuna some mbuloti apparently watu wa Airport walijenga bila kuconfirm about the land lease agreement. So the flats have never been occupied yet we’re completed zimeozaga tu hapo yaani. They are on some stage called Kwa Transformer. It’s such a waste of resources.
I couldnt agree more. Nobody envisions retiring in an apartment. Therefore, buying an apartment to live in is only a short term solution. Why buy houses twice?? Also, the price at which individual apartments sell for does not make investment sense. So, you cannot buy an apartment as an investment either. It is not ideal as a primary residence, or as an investment (exorbitant pricing by developers). Naonanga mtu amebuy apartment naona akiwa amechanganyikiwa sana na hesabu. Apartments only make sense if you rent them/tenant.
There was a misunderstanding on the lease agreement. The deal was not properly completed so one party sought an injunction to halt any actions on the land. It saw the court case and a subsequent back and forth between KAA and the land owner mpaka Leo nothing has been actualized.
When I watch Property Weekly show I usually see apartment homes costing 10millions each. Mimi hushindwa if these apartments get buyers to live in or do they remain vacant for years.
This story has been repeated here severally. The original article was done in 2011 and its still news to date.
They were a ghost town in 2012 since the Angola government had overpriced them and locked out its intended middle class residents. However price was reduced and by 2015, 80000 units had been taken up at $70,000 each.
As of July 2012, the buildings were largely complete but still unoccupied.[1] Only 220 apartments had been sold out of the first release of 2,800. Sales were slow due to affordability and difficulty in obtaining mortgage loans. One school was in operation, but children were travelling in by bus from other areas as there was no one living nearby. The government planned to use some of the residential blocks as social housing.
Although Kilamba contributes to meeting the election pledge made by President Jose Eduardo dos Santos in 2008 to build a million new homes in four years, Angola does not have a large middle class able to buy such homes.
However, despite the slow start, new legislation signed into law by dos Santos resulted in a massive boom in demand.[2][3] Prices of the smallest units were reduced from US $125,000 to $70,000. The population increased to 40,000 residents in September 2013,[4] and 80,000 in July 2015.[5]
I always ask myself if there is a way to challenge court injunctions. We gave too much power to courts. I think caveats work better so that any issue is known before any investment is done.