Luanda — Dubai Investments has signed a landmark agreement with Angola’s Sovereign Wealth Fund (FSDEA) to jointly develop major real estate projects in Luanda Province, strengthening economic and investment ties between the UAE and Angola.
The deal was formalized in Luanda by Dubai Investments’ Chairman and CEO Khalid Bin Kalban and FSDEA Chairman Armando Manuel, in the presence of Angola’s Secretary of State for Urban Planning, Manuel Canguezeze.
The partnership will begin with the transformation of Cazanga Island in the Luanda Archipelago. The first phase will include housing, tourism, and city development projects, designed to foster urban growth and sustainable communities. FSDEA will participate through a landholding company, while Dubai Investments will provide its development expertise to create modern infrastructure.
FSDEA Chairman Armando Manuel said the initiative reflects the fund’s commitment to attracting global capital and expertise to accelerate Angola’s real estate and tourism sector. For Dubai Investments, this marks its second project in Angola, following DIP Angola, a mixed-use development modeled on its UAE flagship project.
The expansion aligns with Dubai Investments’ broader real estate strategy. Current projects in the UAE include Asayel Avenue at Mirdif Hills, launched in June 2025, Danah Bay villas on Al Marjan Island, which are being delivered in phases, and Violet Tower in Jumeirah Village Circle, now 26% complete and expected to finish by Q2 2026.
Trade relations between the UAE and Angola are also on the rise. In the first half of 2025, UAE non-oil exports to Angola reached $135.6 million, while total trade hit $1.4 billion, nearly 30% higher than in 2024. Angola’s main exports to the UAE include diamonds, gold, copper, and grains, while the UAE exports petroleum products, steel, cigarettes, and perfumes.
Other UAE companies are also investing in Angola. Masdar is constructing a 150 MW solar plant to power 90,000 homes, while AD Ports has taken over operations at a multipurpose terminal in Luanda Port.
Earlier this year, the UAE and Angola signed a Comprehensive Economic Partnership Agreement (CEPA). The accord is expected to boost annual trade to over $10 billion by 2033, add $1 billion to both economies, and create 30,000 jobs, cementing bilateral ties.
