Promotion and Projectors Inmobiliaria , SA (URBINVESTE) an Angolan company came forward to refuse the reasons presented by the executive on the pricing of their invoices. For instance, the executive indicated that the company had priced the cost of development on a given as $154 million contrary to the cost of the same project in Dubai, which was priced at $227 million. The project was in the real estate sector, land development and urban planning. With the orders of the president, the orders were awarded international prices.
The Role of Corimba Marginal in Project Management
Corimba Marginal Project informed the public that the allegations were false regarding the overbilling of the contracts or in the scope of works of dredging and constructions in Luanda. It was alleged that the company had incidences of immorality and lack of transparency in the process of scouring work. The tender was later awarded to the Dutch company Van Oord Dredging and Marine Contractors with the knowledge of the Ministry of Finance as well as Isabel dos Santos. The allegations, therefore, were lies and unfounded as the tender was given at the same price as the initial one without any complaint from the Dutch company.
URBINSTE and notable individuals such as Isabel dos Santos has played a critical role in promoting the Corimba Marginal Project and was responsible for the project from the inception to the end. It took a major role in designing, feasibility and presentation of the Angolan State. Moreover, it was promoted as a new quality public space in Luanda City. The property has been beneficial to the Angolan citizens and visitors who continue to enjoy world class innovations such as secure, clean beaches, sports and tourism.
Comparison of the Angolan Project to Other Similar Projects in the World
The final submitted proposal, according to Isabel dos Santos, indicated that the company secured the entire financing of the project. The interest was to be paid after ten years and a grace period of 4 years after the financing agreement. Comparing the project with that of Dubai indicated that the prizes awarded by the Angolan government were reasonable. The designing and execution of the project were criticised by notable entities that included the finance ministry, ING Bank (The Netherlands), Audit Office, Ministry of Environment as well as notable financial individuals in Angola such as Isabel dos Santos.