Anas Sefrioui, a Moroccan property mogul, is investing more than MAD 3 billion (about $300 million) in a big mixed-use development in Abidjan, marking one of his largest investments in Côte d’Ivoire’s commercial city.
The project, led by Addoha Group, will be located in Zone 4, one of the city’s most established commercial and residential areas. The land acquisition deal was inked last week, officially kicking off the development.
The project will cover about 150,000 square metres of usable space and include residential, retail, and commercial components. Four 20-story apartment towers dubbed “Les Tours Éléphants” are at its heart, together with a big shopping mall and modern office buildings.
The Abidjan investment represents a broader shift in Addoha’s strategy.
Sefrioui created the company in 1988 and amassed his money amid Morocco’s massive housing growth, which resulted in thousands of inexpensive flats throughout the country. The company became known for volume-driven projects aimed at middle- and low-income consumers.
In recent years, Addoha has repositioned itself. It moved into upmarket residences with the Prestigia brand and diversified into mid-market segments with Coralia. At the same period, it expanded throughout Sub-Saharan Africa as urban populations and housing demand grew throughout the region.
The Abidjan project indicates a rising preference for premium, mixed-use developments aimed at corporate tenants and higher-income people.
Addoha claims to have active operations in Côte d’Ivoire, Senegal, Guinea, Gabon, and Cameroon. In Morocco and its African markets, the group’s current manufacturing pipeline surpasses 23,000 units, representing more than MAD 10 billion ($1 billion) in secured revenue.
That backlog gives long-term revenue clarity as the company steadily transforms its portfolio to higher-margin projects.
strengthening its standing at home.
Addoha is expanding internationally while also consolidating its domestic foothold.
The group recently approved the Blanca City Park initiative in Dar Bouazza, near Casablanca. The residential project has an estimated income potential of MAD 12 billion ($1.2 billion), cementing its position in Morocco’s luxury housing segment.
It has also signed contracts for over 5,000 rehousing units in Casablanca, Rabat, and Marrakech. These projects are estimated to generate roughly MAD 1.2 billion ($120 million) in revenue, providing consistent income alongside higher-end developments.
For Sefrioui, the $300 million commitment is more than just a new project; it is part of attempts to establish Addoha as a prominent urban developer in francophone Africa.