Moroccan billionaire backs $27 million project to deliver 5,600 homes in Abidjan

Côte d’Ivoire is set to benefit from a major boost to its housing sector as Moroccan billionaire Anas Sefrioui secures a $27 million loan from the International Finance Corporation (IFC) to build 5,600 affordable homes in Greater Abidjan.

The project, to be undertaken by Addoha CIV, a subsidiary of Douja Promotion Groupe Addoha, will deliver 4,600 units for lower-middle to middle-income buyers and up to 1,000 homes for lower-income families. More than 23,000 people in the capital are expected to benefit, easing pressure on Abidjan’s growing housing deficit fueled by urban migration and population growth.

Speaking on the initiative, Anas Sefrioui, President of Addoha Group, said the partnership with IFC would accelerate urban development in Attecoubé, particularly in the Locodjoro area. He emphasized that the project is designed to strengthen communities by ensuring access to quality and affordable housing.

IFC Vice President for Africa, Sérgio Pimenta, described the investment as a response to Côte d’Ivoire’s pressing housing challenges. He noted that mobilizing private sector financing for housing projects would not only help bridge the supply gap but also create jobs and improve living conditions across the country.

With a net worth of $1.6 billion, Sefrioui has expanded Addoha Group beyond Morocco into Côte d’Ivoire, making the West African country a focal point in his vision to address Africa’s affordable housing needs.

Joycelyn Marigold - African Property Magazine