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PFO Immobilier is developing a portfolio of energy-efficient real estate assets in Abidjan

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Proparco has granted a long-term structured loan to PFO Immobilier, subsidiary of the Groupe PFO Africa, to finance office and commercial real estate projects in Abidjan. This is the first financing operation provided to a property holding company in West Africa and this transaction will accelerate the deployment of energy-efficient real estate assets portfolio.

The total financing amounts to €15 million for a series of EDGE Advanced certified real estate projects - the highest level of energy performance achieved in Africa - located in the Cocody district of Abidjan.

This transaction also supports the Groupe PFO Africa, a leading local player and historical leader in the Ivorian construction sector, to strengthen its governance and consider new developments.

In a context of rapid demographic growth and urbanisation, PFO Immobilier's project will enhance the high-quality property offering in Côte d'Ivoire's economic capital through the development of office, retail and mixed-use assets meeting the highest standards.

‘Proparco is delighted to support PFO Immobilier in its real estate projects in Abidjan. The group's approach is fully in line with the shared vision of sustainable urban infrastructure, combining energy performance, international standards and environmental responsibility,’ said Françoise Lombard, CEO of Proparco.

‘This partnership with PROPARCO reflects our ongoing commitment to promote sustainable and impactful projects for Côte d'Ivoire. Working with such a dedicated financial partner demonstrates the trust placed in the Groupe PFO Africa and our ability to imagine, design and bring to life the projects of tomorrow, serving the urban transformation of our continent’, said Clyde Fakhoury, Administrator of the PFO Africa group.

‘This transaction once again demonstrates our growth ambitions and our ability to structure complex and innovative financial transactions in our markets’ added Thomas Flavien, Deputy Administrator of PFO Immobilier.