Rabat - Morocco's Miloud Chaabi is Africa's richest real estate magnate, according to the 2015 Forbes Billionaires list. The owner of Ynna Holding topped the list of Africa's richest businessmen whose assets in real estate have contributed significantly in making their fortunes.
Rabat – Morocco’s Miloud Chaabi is Africa’s richest real estate magnate, according to the 2015 Forbes Billionaires list. The owner of Ynna Holding topped the list of Africa’s richest businessmen whose assets in real estate have contributed significantly in making their fortunes.
Lamudi, a global real estate network analyzed the property portfolios of Miloud Chaabi in addition to some of the continent’s billionaires who have made their fortunes in real estate.
Miloud Chaabi’s interests in real estate are worth an estimated $US one billion or more. The octogenarian has a diverse real estate portfolio. His Holding company Ynna has a property division, Chaabi Lil Iskane. He is also the owner of the Ryad Mogador hotel chain, which opened its first hotel in the city of Essaouira in 1999, and the Aswak Assalam supermarket group.
Sudhir Ruparelia from Uganda is the second richest African businessman in terms of real estate. He has a net worth of $US 1.1 billion and he is the majority shareholder of the companies in the Ruparelia Group, including the real estate company Meera Investments, a company which invests on property development and construction in Uganda’s capital, Kampala.
He is followed by Egypt’s Samih Sawiris. The head of Orascom Development which specializes in building resorts in Egypt, the Middle East, Montenegro and Switzerland, has a net worth estimated at $US 1.5 billion. Sawiris also owns about 10 percent of the construction firm OCI N.V. which was founded by his father and is currently run by his brother Nassef.
Another Moroccan has made it to the list. Anas Sefrioui, the head of the homebuilding company Group Addoha, has focused his property business on building low-cost housing for Moroccans. Sefrioui, whose net worth is estimated at $US 1.1 billion, has announced plans to expand across Africa including Mali, Ghana, and Chad.