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JLL forms association with Abacus for Angolan real estate market & releases Angolan market report

The firm continues to build its service delivery platform in Africa as the market moves towards a state of greater maturity

​JLL announces it has formed an association with Abacus Angola to provide commercial and residential real estate services across the high-growth Angolan market.

The association between JLL and Abacus Angola includes a wide range of services for the commercial and residential segments in the fields of valuation, research & consultancy, tenant representation, property & asset management, capital markets and leasing, as well providing support to international resort and tourism developments.

JLL’s global experience combined with Abacus Angola’s local knowledge and presence presents a compelling client service proposition and will enable JLL to reinforce its growing brand across the African Continent.
Mark Bradford, Chairman Sub Saharan Africa at JLL said, “By linking with Abacus we will create a winning joint client-delivery platform based on shared client values. We are very happy and confident with our new association and look forward to the future.”

The Real Estate Market Report 2014 – Angola reveals that the Angolan real estate market continues to display a positive performance, moving towards greater maturity and consolidation.

Growth is expected in all market segments, a tendency driven by the country’s economic development, which has generated new real estate needs. Luanda continues to be the focus of Angola’s main real estate activity, although other provinces such as Lobito/Benguela, Soyo and Cabinda should also experience real estate development, but on a smaller scale. In these cases, the research report claims that growth should be strongly anchored by corporate investment.

Paulo Trindade, Managing Director and Partner of Abacus Angola, emphasises: “The country’s economic growth and the consequent growth in companies, the increase in the number of businesses and expatriates, along with the rise in Angolans’ purchasing power, has created a growing need for living and work spaces, as well as for shopping. We can confirm that the Angolan real estate market remains on a steady path to maturity, evidenced by the demands of clients and users of real estate assets”.

“We can now state with some conviction that institutional investors are starting to look at the Angolan market, and that the conditions to launch the institutional real estate investment market are there, especially after the entry into force of legislation that approves the creation real estate investment funds. However, these are confronted with issues such as the current Lease Law, the lack of consistent legislation to regulate the financial real estate market and an easier process for expatriating dividends, among others”, states Paulo Trindade.