Luanda is the place to be for the construction companies. Traditionally, Portuguese company like Soares da Costa enjoy the brisk construction business here in Angola. Recently, due to the closer China-Angola relationshiop, more Chinese construction companies also coming to town. The other companies, like Namkwang from Korea also invest heavily for to prosper their business in Angola.
The construction is almost everywhere in the city. Starting from the building construction, extensive land reclamation, and housing industry. It seems that the city is overwhelmed with the construction projects, which brings huge ka-ching to the construction company that willing to work in Angola. The construction workers also coming from around the world. Mostly from China, and several hundred Indonesian already sweating in the construction project.
The ka-ching from booming construction industry in Angola is tremendous. As recently reported by Soares da Costa, the biggest construction company from Portugal. For the year of 2007, Angola represents around 35% of their business. It is quite significant and their busines in Portugal only contributes 38.2%. Therefore, the Angolan construction business is almost similar with their counterpart in Portugal, at least the project that secured by Soares da Costa. They also venture out to USA with 23.7%.
The 2006 profit for Soares da Costa is staggering. They reap net profit of 5.8 million euros for the year 2006, as reported by their press release. That is 14 times of the previous year (2005) which only less than half million euros. Significant portion of the profit are logically contributed from some of their Angolan ventures.
The construction is almost everywhere in the city. Starting from the building construction, extensive land reclamation, and housing industry. It seems that the city is overwhelmed with the construction projects, which brings huge ka-ching to the construction company that willing to work in Angola. The construction workers also coming from around the world. Mostly from China, and several hundred Indonesian already sweating in the construction project.
The ka-ching from booming construction industry in Angola is tremendous. As recently reported by Soares da Costa, the biggest construction company from Portugal. For the year of 2007, Angola represents around 35% of their business. It is quite significant and their busines in Portugal only contributes 38.2%. Therefore, the Angolan construction business is almost similar with their counterpart in Portugal, at least the project that secured by Soares da Costa. They also venture out to USA with 23.7%.The 2006 profit for Soares da Costa is staggering. They reap net profit of 5.8 million euros for the year 2006, as reported by their press release. That is 14 times of the previous year (2005) which only less than half million euros. Significant portion of the profit are logically contributed from some of their Angolan ventures.
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