Angolan President defends private sector role in real estate

Luanda - Angolan head of State, José Eduardo dos Santos, Thursday in Luanda said that participation of private sector is need to improve the housing sector with a view to tackle the financial resources shortage the State is facing at the moment.

The president was speaking at the meeting with the Urban Redevelopment Office at the end of the field visit to urban district of Sambizanga, where the housing development project is underway.

According to José Eduardo dos Santos, the two projects carried out, either by the Construction Ministry, and Urbanisation and Housing lack financial resources, although the State budget envisaged funds for these two programmes in progress.

Really, the Government can hardly raise enough money to pay the works, said the president, calling for the need to conduct better land management through the surface rights to enable the implementation of urban development programmes.

The head of State stressed that the materialisation of this assumption requires the allotment of land for the implementation of urban development projects to ensure raising of funds to finance the real estate sector.

"The State should rely on the participation of the private sector especially in the promotion and development of real estate sector toward building houses for medium and high income people and those with fewer resources," he stressed.

The president also said that the government will take necessary measures to move as soon as possible the living in risk areas, by accelerating the construction of about four thousand homes.