Entreposto to invest US$20 Million in real estate project in Pemba, Mozambique

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(2015-06-05) The Portuguese Entreposto Group announced in Maputo on Thursday that it plans to invest more than 25 million US dollars in a real estate project in Pemba, capital of the northern Mozambican province of Cabo Delgado.

The director of the real estate arm of the group, Entreposto Imobiliaria, Jorge Brites, announced the plan at a ceremony witnessed by the Mayor of Pemba, Tagir Carimo.

Brite said the money will be spent on constructing a nine storey building containing 38 apartments.This would be the tallest building anywhere in Mozambique outside of Maputo.

The building “has been designed with the main focus on the quality of life of the future residents”, said Brites. Such a building “makes us proud, because we shall leave a mark on the city of Pemba. Our responsibility, as the Entreposto Grouo, is to bring products of quality”.

Carimo encouraged such investments “because one of the great problems of Pemba is to find space either for offices or for housing for the multinational companies which are coming to our city”. He was referring to the influx of companies attracted by the discoveries of massive reserves of natural gas in the Rovuma Basin, off the coast of Cabo Delgado.

“We know that this undertaking will create jobs, and it will make a contribution to the financial resources of the municipality”, said Carimo.

Source: AIM

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