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The publication said that Plaza Global was a joint venture of Quantum Global Real Estate and La Salle Investment Management, which acted on behalf of the Angolan fund in the Mayfair purchase.
Swiss-based Quantum Global was controversially chosen to manage the sovereign wealth fund’s $5-billion in assets.
The Angolan government, reliant on oil for 70 percent of its budget, has put the brakes on public spending, stopping thousands of building projects and imposed currency restrictions, hitting the construction industry."Several Portuguese companies in Angola can no longer pay their staff because they are having problems repatriating profits," said Ricardo Pedro Gomes, president of Portugal's construction industry association."Of the 100,000 Portuguese construction workers in Angola before the economic crisis, there are only a few thousand left.
And there are salary delays going back up to a year," construction union leader Albano Ribeiro said.
Angola's President Jose Eduardo Dos Santos, seen in April 2014, will stand down before next year's general election, according to state radio citing sources in the ruling MPLA party ©ALAIN JOCARD (AFP/File) At a meeting of the MPLA (People's Movement for the Liberation of Angola) on Friday in Luanda, Dos Santos launched his party's campaign for the election, but he did not address whether he would seek a new term."Angola is the hostage of his decisions and whims and, fortunately, he has decided on his own that this was enough," he told Portuguese news agency Lusa, calling for "new faces and new blood in Angola".
The end of Dos Santos's regime will shake up Angola, where he has been a looming presence in daily life longer than most people can remember, exercising almost total authority over government, politics, media and business.
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The fund was officially set up by Dos Santos in October last year using Angola’s oil revenues, with the stated purpose of investing in the country’s infrastructure and accumulating savings for future generations.
However, it is widely seen as a way of bolstering his son’s patronage base, possibly in preparation for him to succeed to the presidency.
The son of Angolan President José Eduardo dos Santos is again at the centre of controversy following reports that the Angolan Sovereign Wealth Fund he effectively controls has invested R3-billion in a “trophy” property in London’s Mayfair district.