Annual Report 2010 - CMVM

Management Report of the Board of Directors 2010National Reconstruction BureauHead office building of the NationalAssembly of Angola - LuandaFamily Santana undertaking, SãoPaulo - BrazilIn Angola, the activity increased slightly, where note should be made of the construction of various bank branches, the head office buildingof CABGOC, corresponding to major and demanding construction work, the conclusion of the 1st phase of the São Francisco de Assis Collegein Talatona for a company of the Teixeira Duarte Group, as well as the conclusion of the premises for the National Road and Traffic Departmentin Luanda for the National Reconstruction Bureau and the Secure Information Technology Centre of EMIS (Empresa Interbancária de Serviços).For ESCOM, Teixeira Duarte continued the contract work in progress and started the structure and finishing of three very large buildings,namely in terms of height, and started the construction of the head office building of the National Assembly of Angola, for the NationalReconstruction Bureau, a construction work of great impact and which is progressing at a good rate.In Brazil, in this area, the Group operated through the local subsidiary EMPA, S/A in the management of important construction works for realestate developers integrated in the Teixeira Duarte Group in São Paulo, in particular Family Santana, composed of four hundred apartments infour tower blocks of twenty-five floors, as well as Quartier, composed of two tower blocks with two hundred apartments.Since this is a market with so many opportunities, the Group believes there is potential for its major growth in this area, which stimulatesTeixeira Duarte to pursue increasing its size so as to be able to meet new challenges.In Spain, the Group accompanies the strong fall in activity which has been experienced in this market, however, even so, particular note shouldbe made, amongst other contract works, of the beginning of the construction of a building in Calle Amália, in Madrid, for the Group's realestate sector.In Mozambique, Teixeira Duarte maintains a very active profile on the market, which has enabled its income to have increased, pursuing itsaction amongst multiple public and private entities, in particular the conclusion of the head office of the Ministries of Labour, Civil Service,Tourism and Youth and sports for BCI, as well as the continued execution of the Polytechnic Institute for Agricultural Science of Lionde, for theMinistry of Education and Culture.27