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.”
Saradar Family Office (“SFO”) is an independent multi-family office dedicated to managing, preserving and creating wealth to its clients. SFO’s main activities span over wealth management, private equity, and real estate investments.
SFO specializes in the acquisition, on behalf of member families, of high-quality real estate investments at attractive valuations with a focus on implementing hands-on value creation initiatives to assets and developments.
The combination of the experienced real estate team and best-in-class operating partners across different geographies enables SFO to deliver attractive risk-adjusted returns for member families.
SFO is a member of Saradar Group, a diversified family conglomerate that has been at the center of the Lebanese financial sector for over 70 years.