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Building projects

In spite of its previous instability, Mozambique is experiencing one of the fastest growth rates for a developing country in the world. The projected growth rate for 2011 is expected to be around 7.5%, some of it centered on the construction of several capital intensive projects in Maputo. Some of the more notable developments include Edificio 24, a mixed-use development that will be located at the center of the city along Avenida 24 Julho and Avenida Salvador Allende. The Maputo Business Tower is a modern 19-story building. The Radisson Blu corporation has constructed a 22 story hotel with 256 rooms in one of the city's trendiest spots on the marginal along the beach. A 15-story building for the second largest telecommunication company in the country, Vodacom, was projected to be completed in 2010. The regeneration of the Maputo waterfront is an urban regeneration project that is being developed at site of the former annual industrial fair grounds (FACIM).