China’s experience in urban development might help to diversify the Angolan economy by promoting more investment in real estate, a study showed.

“Angola is committed to finding new ways to diversify and grow its economy in the new climate of low prices of raw materials. The Chinese experience of urban development, if shared, could prove to be as valuable as their loans,” said researcher Allan Cain, in his article “Opportunities for new urbanism of Angola after the collapse of the oil economy”, quoted by online news portal Macauhub.

The Development Workshop, which describes itself as the longest-serving non-governmental organisation in Angola, published the article.

Mr Cain argued that “applying some of the long awaited reforms in housing credit, participatory planning and fiscal decentralisation for municipalities” in Angola could encourage the private sector to invest in urban development and in housing, “stimulating foreign investment in real estate”.

The Angolan province of Luanda, which also includes the national capital, has been the beneficiary of the largest Chinese-led housing development scheme in Africa, Macauhub said. The Kilamba project has 20,000 apartments. Similar projects are planned for the remaining 18 provinces, providing 150,000 housing units, the media outlet added.

China has recently provided a US$5.2-billion credit line to Angola to fund 155 development projects in the African nation. The schemes would generate almost 365,000 jobs, the Angolan Government estimated in January.