Page 27

Kilamba, Angola No one knows the reason behind the decision of a Chinese investment company to build a 500-thousand city of Kilamba thirty kilometres outside of Rwanda. Despite the fact that Angola is one of the richest countries in so-called Black Africa, its economy is based on oil production. There is virtually no middle class; therefore, there are no buyers for new real estate. The plan was to sell most of the apartments in Kilamba to the buyers who would take out a mortgage but soon it has become clear that a system of mortgages in Uganda is practically non-existent. Now, the half-a-million city has the population of just over a thousand. There is only one school in the whole big territory and its students are bussed here because they all live far away.

rule the country’s political and economic life. The plans have been ruined not so much by the worldwide financial crisis and inflated prices as by the poor quality of construction. The buildings started falling apart virtually immediately after the new owners had moved in while chronic problems with utilities ruined all hopes of a promising future once and for all.

FOR ADVERTISEMENTS CALL (416) 477-6107

June 2014

ALL ABOUT HOME

27

All about home magazine june 2014  

All about home magazine june 2014

Read more
Read more
Similar to
Popular now
Just for you