Odds

Anas Sefrioui Built a BillionDollar Real Estate Firm Against All Odds

Profile || By Ebube Julius

Anas Sefrioui is the legend behind one of Morocco’s largest building and construction companies, Douja Promotion Groupe Addoha. Born in Morrocco, Sefrioui dropped out to help his father run his skincare treatment business, where they developed the Moroccan SPA clay formula known as Gassoul, which is used for body and hair cleansing.

This experience gave Sefrioui a solid foundation in business and taught him the ropes of managing a company. He remained active in the field until he had amassed sufficient financial resources to embark on the life of his dreams.

Taking the Bold Step

at a higher price. From the profits he made, he then increased the housing available on the market for clients that were on a mid-budget, which enabled a good number of Moroccans to have access to housing. It was during the course of creating and developing these residential properties that Sefrioui experienced a breakthrough.

He got a royal recognition form the late King Hassan || and was thus awarded in 1998 with a lucrative state contract to build 20,000 units of government-subsidised houses for the Moroccan masses. With this gig, Sefrioui amassed millions of dollars and was able to deliver the project ahead of schedule. Seeing his passion and specialisation in the real estate industry, Sefrioui was also contacted for a second contract in 2005. This time, it was a $1 billion contract to build more housing units.

Sefrioui, who decided to start up his own business by venturing into the real estate industry, said, “When I have an idea in my head, I think about it, and if I feel its a good idea, I set a goal and I go for it.” During the planning stage of his new venture, he faced different forms of discouragement from both friends and relatives. They didn’t support his plan to invest in the industry, but Sefrioui still stood his ground and proceeded with his plans.

With his unfailing desire, he mobilised all of the money he had saved up and invested it in his first piece of land at El Oulfa in Casablanca. As he tells, “My very first ground, I bought it in the pain, the one which takes you in the guts because you are perhaps the only one who thinks that it is going to work, and that you put all that you have there”.

His Career as a Relator

His career in the real estate world took off and began to take the turn he dreamed of. At age 31, he founded Douja Promotion Groupe Addoha on the 18th of April in Casablanca, Morocco. The firm deals in a variety of commercial and residential properties, including office and retail spaces, apartments, villas, and land.

At first, he focused on buying abandoned residential structures, renovating them, and then selling them off Today, his name and real estate company is being recognized as a big player on the real estate development scene. In the course of his company’s history, they had developed over 15,000 acres of land and constructed over 190,000 homes across Morocco. He has also diversified the company beyond real estate development. Douja Promotion Groupe Addoha now has interests in cement manufacturing, financial services, legal advisory services and tourism, new territories he ventured into in rapid succession.

In addition, the real estate tycoon holds an interest in projects such as Casablanca and regions, Rabat and regions, Tangier, Meknes, Oujda and many others. With his ongoing innovations in the real estate sector, Anas Sefrioui has maintained his status as one of the most influential African business leaders with his firm currently being valued at over $444.5 million.

Achievements and Recognitions

In addition to leading one of Morocco’s largest real estate firms, Douja Promotion Groupe Addoha was named one of the top 50 Real Estate Developers in the Middle East and North Africa by Forbes in 2021. In 2012, Anas Safrioui also made an appearance on Forbes’s list of the world’s billionaires.