The $3.5 billion development covers 12,355 acres and was built to house about 500,000 people, and this is one of "several satellite cities being constructed by Chinese firms around Angola," writes Redvers.
But the apartments in the complex cost somewhere between $120,000 and $200,000 according to online advertisements cited by BBC. Otheranecdotal reports put the price of 3-bedroom apartment at about $250,000.
None of which helps the average Angolan given the country's per capita GDP of $5,144 per year, according to the World Bank.
And let's not forget, Angola serves as China's largest source of oil in Africa. Some like energy expert @pcdunham speculate this could be in preparation for oil money that is expected once the country begins developing new oil discoveries.
The $3.5 billion development covers 12,355 acres and was built to house about 500,000 people, and this is one of "several satellite cities being constructed by Chinese firms around Angola," writes Redvers.
But the apartments in the complex cost somewhere between $120,000 and $200,000 according to online advertisements cited by BBC. Otheranecdotal reports put the price of 3-bedroom apartment at about $250,000.
None of which helps the average Angolan given the country's per capita GDP of $5,144 per year, according to the World Bank.
And let's not forget, Angola serves as China's largest source of oil in Africa. Some like energy expert @pcdunham speculate this could be in preparation for oil money that is expected once the country begins developing new oil discoveries.
This is what happened to Thailand too back in 97, construction boom and the banks loan to all kinda construction companies Larges, midium and small and suddenly the housing market collapsed because of over stock .