Morocco's Addoha deepens West Africa push with 27,469-unit Cote d'Ivoire pipeline
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Moroccan developer Addoha has launched Palm Bay, an ultra-luxury villa scheme in Assinie, and unveiled a new premium brand as it expands across Cote d'Ivoire. Its 20 Ivorian projects represent potential revenue of about 22.3 billion dirhams.
Moroccan developer Addoha has unveiled Palm Bay, an eight-hectare ultra-luxury villa development on the Assinie peninsula about 90 kilometres east of Abidjan, priced at around 20 million dirhams per villa, and launched a new "Addoha Signature" brand dedicated to ultra-luxury housing, alongside a model of the planned Tours Elephants complex in Abidjan.
The launch on October 11 was attended by a Minister of State and adviser to the President of Cote d'Ivoire, Morocco's ambassador Othman El Ferdaous and Addoha chief executive Anas Sefrioui. Addoha says its 20 projects in Cote d'Ivoire represent potential revenue of 1,336.7 billion CFA francs, or about 22.3 billion dirhams, with 3.75 billion dirhams already invested.
A quarter of that potential revenue, 5.63 billion dirhams, has been secured through signed agreements and contracts, about 3 billion dirhams has already been recognised as revenue, some 16.7 billion dirhams remains to be generated, and roughly 15,700 housing units have yet to be launched. As of September 25, West Africa accounted for 3.7 billion dirhams of the group's 12.9 billion dirhams in secured revenue, or 29%, as well as 35% of its housing units under construction.
Addoha entered Cote d'Ivoire in the early 2010s under an agreement with the government as part of a presidential housing programme that included easier access to land and tax exemptions. The group reported consolidated net income up 20% in the first half of 2026 to 336 million dirhams, after cutting debt by 5 billion dirhams, and says it is entering a new phase of growth.
The push reflects a market short on supply: Abidjan's district had about 6.3 million people at the 2021 census, Cote d'Ivoire accounts for nearly 40% of UEMOA GDP, and the housing shortfall is commonly estimated at around 500,000 units. "The government has seen the success of the Moroccan model and wants to replicate it," said chief executive Anas Berrada, who led a tour by Moroccan asset managers and institutional investors of the group's sites from Cocody to Bingerville.