5 Richest Real Estate Moguls in Africa
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African CEOs - June 2, 2023

5 Richest Real Estate Moguls in Africa

The real estate market in Africa has produced some of the richest moguls on the continent. Through their ventures in the real estate industry, these visionary entrepreneurs have gathered considerable wealth and influence. 

From luxurious residential developments to sprawling commercial projects, these individuals have left an indelible mark on the real estate landscape, shaping skylines and transforming communities. Join us as we explore the stories of these remarkable individuals and the notable projects that have propelled them to the pinnacle of success. 

Sudhir Ruparelia

Sudhir Ruparelia is a real estate mogul that hails from Uganda. Known as the first East African to grace Forbes’ list of the world’s richest people, he owns Ruparelia Group, one of Uganda’s largest conglomerates. Named the largest property owner in Uganda, Ruparelia is known for its luxury hotels, apartment complexes, and swanky resorts.

Also, his company owns a commercial bank and more than 200 commercial properties. As a real estate mogul, Ruparelia owns Speke Group, the holding company for his prime hospitality assets, and Crane Management Services, which offers real estate management, marketing, and consultancy services to the hundreds of properties that Ruparelia owns. His other companies include Premier Roses Limited, Goldstar Insurance Company Limited, Kampala International School, Sanyu FM 88.2, Vcon Construction Uganda Limited, etc

Sijibomi Ogundele

Sijibomi is a Nigerian real estate mogul that is setting a new paradigm in the luxurious industry. With a current portfolio of over $450 million, Sijibomi is the Chief Executive Officer of Sujimoto Construction. Speaking about his company, Sijibomi said, “We studied projects from France to Italy, Dubai to New York and we decided to beat the best. Our vision for the next 10 years is to remarkably rebuild and turn Nigeria into a world-class country when it comes to luxury edifices.”

His company is building a Luxury Residential Tower in Abuja. The tower has been described as the tallest residential building in the North. Other projects include Sujimoto Diamond City (SDC), a 38,000m² development in the middle of Victoria Island, a world-class 6-in-1 Mall in the heart of Ikoyi; and the Sujimoto Dubai Project.

Samih Sawiris

Samih Sawiris, an Egyptian billionaire is one of Africa’s real estate moguls who leads Orascom Development Holding. As the youngest son of Egyptian construction magnate Onsi Sawiris, Samih focuses on resort development. Sawiris has created stunning tourist destinations in Egypt, Montenegro, Switzerland and other parts of Africa.

With a net worth of $1.1 billion, Samih owns nearly 10% of construction giant OCI, founded by his father. His company’s flagship project is El Gouna, a private town built along the Red Sea coastline in Egypt. Other projects include high-end hotels, luxury residential properties, and integrated resorts that attract both local and international investors.

Anas Sefrioui

As a real estate mogul, Anas Sefrioui heads publicly traded homebuilder Douja Promotion Groupe Addoha. Groupe Addoha focuses its property business on building low-cost housing for Moroccans. With a net worth of over $1.6 billion, Sefrioui enjoyed winning government contracts to develop low-cost housing in Morocco.

Suffering government cutbacks, Sefrioui announced plans to expand across Africa. The African billionaire dropped out of school at age 16 to join the family business. At age 31, he invested his savings from the family business by establishing his real estate firm. Today his firm is Morocco’s largest property developer and operator with real estate programs and investments across the North African country.

Miloud Chaabi & Family

One would also not fail to mention Miloud Chaabi, founder of Ynna Holding and its property division, Chaabi Lil Iskane, who was the wealthiest man in Morocco at the time of his death. His company develops real estate and operates hotels and supermarkets. 

Chaabi who controls a vast real estate program of over 50,000 diverse properties across various cities in Morocco was known for his strong stance against alcohol which is banned from both his hotel chain and supermarkets. He also managed one of the largest charity organisations in Morocco, the Miloud Chaâbi Foundation.

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