Moroccan Firm to Build 15,000 Homes in Côte d’Ivoire in $534 Million Project

In a statement to MAP, the CEO of SAADA Côte d’Ivoire, Noureddine Fisli, indicated that the Moroccan subsidiary will be responsible for leading the technical and execution phase of the work, from start to finish. The project requires an investment of around 350 billion CFA francs, or 534 million euros, and will be built on 128 hectares in Bingerville, a commune located east of Abidjan, specified the director of SAADA CI.

According to him, SAADA CI will provide all the necessary expertise for the smooth running of the project. In detail, he specified that these homes will be allocated on the basis of "individual lease-purchase contracts over a maximum period of 25 years, without any initial contribution from the subscribers," says MAP.

As for the company INVIMO, it will provide assistance to the project owner, in addition to "the financial structuring of the project which involves the search for fundraising and all the necessary financing". Noureddine Fisli explained that "the subsidiary of the Moroccan group will thus act to mobilize the resources necessary for the realization of the Project, without resorting to any contribution from the beneficiary teachers or their mutual".

In addition to the two subsidiaries of "Palmeraie développement", the "Real Estate Development Group" is made up of Ivorian operators "OPES Holding SA" and "Fondscarre Consulting Group", specifies the same source.