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Abidjan, tour, Groupe Duval
Proparco is financing the refurbishment and operation, by Duval Group, of an office tower in the Plateau business district in Abidjan. In a context of rapid urbanization, this project will upgrade infrastructure and improve safety and energy efficiency standards. This tower will also be a source of economic development and attractiveness for the city of Abidjan.
Client presentation

Duval Group is a French family-owned group integrated in the entire real estate value chain: development, asset management, land management and operation. Duval Group is present on the French market and is seeking to develop its real estate activities in Africa. 

Project description

This EUR 22m project involves refurbishing and operating a 5,900 m2 office tower in the Plateau business district in Abidjan. This project is part of a process to develop and structure urban infrastructure in Abidjan. It is an opportunity for PROPARCO to extend its area of activity to the real estate and commercial sector, supported by the quality of Duval Group, a leading French real estate group. The refurbishment project will contribute to disseminating safety and energy efficiency standards and good environmental and social practices in a context of rapid urbanization.

Project impact

The refurbishment and operation of the complex will create or maintain 110 full-time equivalent direct and indirect jobs over the next 5 years, 90 of which are full-time equivalent jobs for the construction works. In addition to security and maintenance staff on the site, the refurbishment of the tower should support and promote employment in catering activities on the Plateau. These jobs will contribute to diversifying Côte d’Ivoire’s economy, which is still highly dependent on the agricultural sector. 

The tower will also benefit over 500 people working in the services sector, who will work in these recent and energy-efficient offices. 

12/12/2018
Date of signature of the project
Sectors
Côte d'Ivoire
Location
Financing tool
15 500 000 Euros
Amount of funding
EUR 15.5m loan
Financing details
Duval Financement Afrique
Client
CES