King Mohammed VI lists late mother’s Paris homes for $35m

Morocco’s King Mohammed VI and his siblings have put three properties near Paris on the market in a rare move, seeking about 30 million euros from real estate once owned by their late mother, Princess Lalla Latifa Amahzoune.

Lalla Latifa, widow of King Hassan II, died June 29, 2024. Since early December, brokers have been showing a 10 room house on Rue Windsor in Neuilly sur Seine, one of the capital’s priciest western suburbs, with an asking price of 7.5 million euros.

The residence offers more than 500 square meters of living space and a garden of more than 200 square meters. The home’s three suites have parquet floors and marble bathrooms, and Murano glass chandeliers are included in the sale. The agency Barnes is marketing the home.

Another listing is far grander. A four story property on Boulevard Maurice Barrès in Neuilly, set near diplomatic residences by the Bois de Boulogne, is priced at 20 million euros. Reworked into a private mansion on a 569 square meter plot, it offers about 1,325 square meters of interior space, with balconies, a rooftop terrace and views toward the Louis Vuitton Foundation. Barnes and Engel and Völkers are handling that sale.

Inside, the garden level living room is lined with wood paneling patterned in mashrabiya style. Two floors each contain four suites with private bathrooms. Two basement levels hold a wellness area with a swimming pool, a hammam and a gym, finished with ornate mosaics.

Both Neuilly properties were acquired in 2002 through real estate companies created with Ely Michel Ruimy, described as Lalla Latifa’s Paris property manager. The current pricing implies a large jump from early 2000s neighborhood values.

The listings have also revived interest in the king’s wealth, often discussed in Morocco but rarely itemized. Forbes has estimated Mohammed VI’s fortune at about $5.7 billion in past rankings. Much of the family’s economic footprint runs through Al Mada, formerly Société Nationale d’Investissement, and the king’s personal holding company, Siger. Al Mada describes itself as a long term investor spanning banking and insurance, mining, energy, telecoms and retail. Reuters has reported that Al Mada controls telecom operator Inwi. Attijariwafa bank says Al Mada is its principal shareholder.

A third holding is a fifth floor apartment in Courbevoie, near the La Défense business district. Its location close to the Neuilly addresses has fueled speculation it was used for staff housing.

The holdings have been transferred to Prince Moulay Rachid and Princesses Lalla Meryem, Lalla Asmaa and Lalla Hasna, while Mohammed VI has renounced his share of the real estate inheritance. Family representatives are also preparing sales of properties in Morocco, including residences in Rabat and the seaside town of Bouznika.