Cape Verde port expansion begins

In news that may interest those looking to invest in Cape Verde property, work is set to begin this weekend on the expansion of a major port in the country.

The development of Praia port will commence on Saturday October 11th, the port management company's chairman told newspaper A Semana, reports Macauhub.

Last month Macauhub reported that the expansion - funded by a EUR47 million (GBP37 million) loan from the European Development Bank - will enable the country to bring in construction materials faster, something that could boost the property industry.

In another move that could aid the industry's fortunes in the country, a new trade body representing the property sector has just been established.

Known as Promitur, the body is intended to improve communications between the sector and the Cape Verde government, Propertywire reported this week.

Managing director of Cape Verde property Adrian Lillywhite told the news provider: "The new industry body should help promote Cape Verde as an excellent destination for property investment and one that is closely regulated and therefore secure."
 

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