Moroccan property billionaire, Anas Sefrioui is committing more than MAD 3 billion (about $300 million) to a major mixed-use development in Abidjan, marking one of his most significant investments yet in Côte d’Ivoire’s commercial capital.
- Moroccan billionaire Anas Sefrioui is investing $300 million in a luxury mixed-use development in Abidjan’s Zone 4 district.
- The project will feature four 20-storey residential towers, office space and a major shopping centre.
- It marks a strategic shift by Addoha Group toward higher-margin, premium developments across Africa.
- The company says it expects revenues and profitability to accelerate from 2025 as execution improves.
The project, led by Addoha Group , will be located in Zone 4, one of the city’s most established commercial and residential districts. The land acquisition agreement was signed last week, formally launching the development.
The scheme will span more than 150,000 square metres of usable space and combine residential, retail and office components. At its centre are four 20-storey residential towers branded “Les Tours Éléphants”, alongside a large shopping centre and modern office buildings.
Higher-value developments
The Abidjan investment reflects a broader shift in Addoha’s strategy.
Sefrioui founded the company in 1988 and built his fortune during Morocco’s large-scale housing expansion, delivering thousands of affordable units across the country. The group became known for volume-driven projects aimed at middle- and lower-income buyers.
In recent years, however, Addoha has been repositioning itself. It expanded into upscale housing through its Prestigia brand and diversified into mid-market segments under Coralia. At the same time, it pushed into sub-Saharan Africa as urban populations and housing demand increased across the region.
The Abidjan project signals a stronger tilt toward premium, mixed-use developments targeting corporate tenants and higher-income residents.
Expanding across West and Central Africa
Addoha says it has active operations in Côte d’Ivoire, Senegal, Guinea, Gabon and Cameroon. Across Morocco and its African markets, the group’s current production pipeline exceeds 23,000 units, representing more than MAD 10 billion ($1 billion) in secured revenue.
That backlog provides multi-year revenue visibility as the company gradually shifts its portfolio toward higher-margin projects.
Alongside its international expansion, Addoha continues to consolidate its domestic presence.
The group recently authorised the Blanca City Park programme in Dar Bouazza, near Casablanca. The residential project carries an estimated revenue potential of MAD 12 billion ($1.2 billion), reinforcing its position in Morocco’s premium housing segment.
It has also secured contracts for more than 5,000 rehousing units across Casablanca, Rabat and Marrakech. Those projects are expected to generate approximately MAD 1.2 billion ($120 million) in revenue and provide steady income alongside higher-end developments.
For Sefrioui, the $300 million commitment is not just a new project, it is part of efforts to reposition Addoha as a leading urban developer across francophone Africa.
