Dubai Investments, listed on the Dubai Financial Market, announced the signing of a strategic cooperation agreement with the Angolan Sovereign Wealth Fund to develop large-scale real estate projects in the Luanda province of Angola.

A statement yesterday indicated that the agreement, signed in Luanda, embodies a shared vision to boost investment in modern urban planning and sustainable development in the Angolan capital, with the first phase focusing on developing Kazanga Island off the coast of Luanda.

The agreement was signed by Khaled Bin Kalban, Vice Chairman and CEO of Dubai Investments, Armando Manuel, Chairman of the Angolan Sovereign Wealth Fund, and Manuel André da Costa Kangizezi, Angolan Secretary of State for Urban Planning, representing the Minister of Public Works and Urbanism.

Under the agreement, the Angolan Sovereign Fund participates in the investment through a dedicated instrument granting it ownership rights to lands in the development areas. This investment model allows Dubai Investments to leverage its development expertise to transform the allocated lands into modern, sustainable urban complexes that reflect its vision of integrated and scalable urban environments. It also opens new horizons for infrastructure development and activates the tourism sector in Angola.

Khaled Bin Kalban said, “This achievement represents an important strategic milestone in Dubai Investments’ journey to expand its global presence,” noting that the group entered the Angolan market for the first time through the development of the Dubai Investments Complex in Angola, a multi-use integrated complex inspired by the successes of the Dubai Investments Complex in the UAE.

Armando Manuel, Chairman of the Angolan Sovereign Wealth Fund, said, “The signing of this agreement reflects the Sovereign Wealth Fund’s commitment to attracting international capital and technical expertise, contributing to the development of quality projects in Angola’s real estate and tourism sectors.”