Groupe Duval has received loan backing from the International Finance Corporation (IFC) and France's Proparco in support of a construction project in Côte d’Ivoire to build high-quality office and retail space in Abidjan
In a statement, IFC said the project will support green, modern, mixed-use construction practices in the country and help to address "strong demand" for quality office space, retail space and serviced apartments in the Ivorian capital, supporting job creation and the hospitality and business tourism sectors.
Under the partnership, IFC and Proparco will each loan Groupe Duval around US$17.6mn to support the construction of Village Notre Père, a modern shopping, office and living space across about 21,000 square metres in Abidjan’s Plateau business district.
An estimated 30% of the project’s area will be rented by Odalys City, a serviced apartment hotel brand of the Groupe Duval, reaffirming the group’s interest in growing its hospitality business in Africa.
It is the second project of its kind, following the construction of the EDGE-certified mixed-use Inzovu Mall in Rwanda, in which IFC and Proparco also supported Groupe Duval.
For the latest project, IFC will also assist Duval to achieve EDGE green building certification and build its capacity on environmental and social performance.
"This investment highlights IFC's dedication to advancing Côte d’Ivoire’s urbanisation goals, sustainability and gender issues by implementing EDGE green building certification and creating human resources policies that are inclusive of gender considerations,” said Ethiopis Tafara, IFC's vice president for Africa.
As of March 2025, IFC, the World Bank's private finance arm, had an active investment portfolio of US$780mn in Côte d’Ivoire, focusing on housing, agricultural value chains, infrastructure (including digital), capital market development, health, creative industries and access to finance for SMEs.
"Proparco is pleased with the dynamic partnership with Groupe Duval," added Françoise Lombard, Proparco's chief executive officer.
"We are proud to support the real estate project 'Village Notre Père,' which will undoubtedly strengthen the offer of modern and sustainable infrastructure in the Plateau area and enhance Abidjan’s international influence,"
Proparco is a subsidiary of Agence Française de Développement, the French development group.
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Abidjan is experiencing strong demand for office, residential and retail space
