Moroccan billionaire Anas Sefrioui bets $300M in Abidjan

Moroccan real estate tycoon Anas Sefrioui is taking his biggest step yet into Abidjan’s high end property market, backing a project priced at more than 3 billion dirhams, about $300 million, in the city’s prized Zone 4 district.

The development, announced in February, is a notable pivot for Sefrioui’s Addoha Group, long associated with mass market housing in Morocco and large scale residential rollouts across Africa. This time, the focus is premium, mixed use, and aimed squarely at the kind of corporate and affluent demand that has reshaped pockets of Abidjan in the past decade.

Plans call for more than 150,000 square meters of usable floor space anchored by a residential centerpiece branded “Les Tours Éléphants,” or The Elephant Towers. The project is designed around four 20 story residential towers, paired with modern office space and a major shopping center. The location and scale signal an intent to compete in a neighborhood where land is scarce and expectations are high.

Sefrioui, 68, founded Addoha in 1988 and built his fortune by riding Morocco’s housing drive, winning contracts and delivering large volumes of units at a pace few rivals could match. He is widely viewed as one of Morocco’s best known developers, and business rankings in the region have repeatedly placed him among the Arab world’s wealthiest, with his rise tied to low cost housing and later expansion into higher value segments.

His strategy has often been simple: build at scale, keep the pipeline full, then use that base to branch out. Addoha moved into upscale development through its Prestigia brand and broadened further into mid market housing through Coralia, while also pushing into sub Saharan Africa as West African cities boomed.

Addoha says it now has active operations in Côte d’Ivoire, Senegal, Guinea, Gabon and Cameroon. The group describes an overall order book of about 23,000 units, representing more than 10 billion dirhams in secured revenue, giving it a cushion as it shifts its mix toward higher margin projects.

Back home, Sefrioui is also repositioning the Moroccan portfolio. Addoha recently launched the Blanca City Park project in Dar Bouazza near Casablanca, with projected revenue potential of 12 billion dirhams, and says it has also secured contracts for 5,000 relocation housing units across Casablanca, Rabat and Marrakech tied to public urban programs.

The company is betting that faster execution and a tilt toward higher value offerings will lift profitability starting in 2026. The Abidjan investment sits at the center of that pitch, capturing rapid urbanization in a West African hub while reinforcing Addoha’s premium ambitions at home.