SFO launches the development of a 17,000sqm shopping center in Abidjan, Ivory Coast
SFO launches the development of the first institutional-grade shopping center in Abidjan. Anchored by French retailer Carrefour, the project will cover a total area of 17,000sqm and will feature a selection of international and local retailers, as well as a number of entertainment amenities including cinema theaters.
The project is located in the most dense municipality in Abidjan, and is expected to attract more than 4 million visitors per year whilst providing a superior retail experience to its community.
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO, said: “Ivory Coast has successfully managed to overcome its challenges and establish itself as one of the fastest growing economies in Africa on the back of a rising middle class, a stable currency and a business-friendly environment. This represents significant opportunities and growth potential for the retail sector which remains relatively untapped.”
About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of June 2023, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.2 billion in assets located primarily in the USA and Europe, including 7,000 apartments and more than 9.6 million square feet of commercial real estate under management.