Moroccan real estate billionaire Anas Sefrioui is making his most ambitious move yet on the African continent, committing more than MAD 3 billion (approximately $300 million) to a landmark luxury mixed-use development in Abidjan’s prestigious Zone 4 district.
The investment, executed through Addoha Group, signals a decisive strategic shift toward premium, high-margin African real estate, moving beyond the company’s long-standing focus on mass-market housing.
The land acquisition agreement, formally signed in February 2026, launches what is expected to become one of the most significant private real estate projects in Côte d’Ivoire’s history.
The development will span more than 150,000 square metres of usable floor space and will be anchored by a flagship residential component known as “Les Tours Éléphants” (The Elephant Towers). The project will feature:
- Four 20-storey luxury residential towers
- Modern office spaces
- A large shopping and lifestyle centre
The complex is designed to serve Abidjan’s premium residential and commercial markets, targeting multinational firms, high-income professionals, and international investors.
Strategic Pivot for Addoha Group
For Sefrioui, the $300 million commitment represents more than a single project. It forms part of a broader effort to reposition Addoha as a leading urban developer across francophone Africa.
Founded in 1988, Addoha initially built its reputation on large-scale affordable housing in Morocco. Over time, the group expanded into:
- High-end developments under its Prestigia brand
- Mid-market housing through Coralia
- Regional expansion across sub-Saharan Africa
Addoha currently operates in Côte d’Ivoire, Senegal, Guinea, Gabon, and Cameroon, with a production pipeline exceeding 23,000 housing units and more than MAD 10 billion in secured revenue.
Why Zone 4 Matters
Zone 4 is one of Abidjan’s most established and sought-after districts, known for its mix of corporate offices, embassies, and upscale residences. The location offers sustained demand from multinational tenants and a growing upper-income population—precisely the segment Addoha is now targeting.
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The group expects the focus on higher-value developments and faster project execution to accelerate profitability from 2026 onward.
From Affordable Housing to Skyline Projects
The luxury project marks a clear evolution from Addoha’s earlier footprint in Côte d’Ivoire. In 2025, the company secured a $27 million IFC-backed loan to develop 5,600 affordable homes in Greater Abidjan.
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At the time, Sefrioui said the initiative aimed to “strengthen our commitment to delivering high-quality and affordable housing to meet the needs of Ivorian families.” The Les Tours Éléphants project now extends that commitment upmarket, positioning Addoha as a full-spectrum urban developer capable of shaping both communities and skylines.
