Moroccan property tycoon Anas Sefrioui has unveiled a $300 million investment in a landmark mixed-use development in Abidjan, deepening his footprint in West Africa’s fast-growing real estate market.
The ambitious project, led by Addoha Group, will rise in Zone 4, one of the most prestigious business and residential districts in Abidjan. The land acquisition agreement was signed last week, officially kickstarting construction plans.
Four Luxury Towers to Redefine Abidjan Skyline
The development will cover more than 150,000 square metres of built-up space. At its core, four 20-storey residential towers branded Les Tours Éléphants will dominate the skyline. In addition, the project will include modern office spaces and a major shopping centre designed to attract multinational tenants and affluent residents.
Importantly, the Abidjan luxury real estate project signals a strategic pivot for Addoha Group. While the company built its reputation on affordable housing in Morocco, it now targets higher-margin premium developments across Africa.
Strategic Shift Toward Premium African Real Estate
Sefrioui founded Addoha in 1988 and capitalised on Morocco’s large-scale housing boom. Over the years, the group delivered thousands of affordable units and became a volume-driven powerhouse in the sector.
However, market dynamics have changed. As African urbanisation accelerates, demand for upscale housing and commercial real estate continues to surge. Consequently, Addoha has repositioned its portfolio. Through its Prestigia brand, the group expanded into high-end housing. Meanwhile, Coralia addresses mid-market demand.
Now, the $300 million Abidjan investment underscores a stronger focus on mixed-use, premium real estate developments across francophone Africa.
Strong African Pipeline and Revenue Growth Outlook
Currently, Addoha operates in Côte d’Ivoire, Senegal, Guinea, Gabon and Cameroon. Across Morocco and sub-Saharan Africa, its production pipeline exceeds 23,000 units. These projects represent more than MAD 10 billion ($1 billion) in secured revenue.
As execution improves, the company expects revenue and profitability to accelerate from 2025. The secured backlog also provides multi-year revenue visibility, which strengthens investor confidence.
At the same time, Addoha continues consolidating its domestic base. The group recently authorised the Blanca City Park programme in Dar Bouazza near Casablanca. The development carries an estimated revenue potential of MAD 12 billion ($1.2 billion), reinforcing its leadership in Morocco’s premium housing segment.
Furthermore, Addoha secured contracts for more than 5,000 rehousing units across Casablanca, Rabat and Marrakech. These projects should generate approximately MAD 1.2 billion ($120 million), creating stable income alongside luxury ventures.
Positioning Addoha as a Francophone Africa Urban Leader
For Anas Sefrioui, this Abidjan mega project represents more than a financial commitment. Rather, it reflects a broader ambition to position Addoha Group as a leading urban developer across francophone Africa.
With Abidjan emerging as one of West Africa’s most dynamic economic hubs, the timing appears strategic. As regional GDP growth strengthens and foreign investment flows increase, premium mixed-use developments are becoming central to Africa’s urban transformation story.
