In a bold display of opulence, Malik Sefrioui, the son of the Moroccan billionaire Sefrioui family, has secured a lavish waterfront residence on Hibiscus Island in Miami Beach for a staggering $15.375 million.
The acquisition marks yet another milestone in the family’s ongoing expansion into the realm of luxury real estate, further solidifying their presence in the affluent Miami Beach community.
Amidst a surge of ultra-high-net-worth individuals flocking to Miami Beach in the wake of the pandemic, the Sefrioui family continues to assert its prominence in the global real estate arena.
Luxury estate acquisition on Hibiscus Drive
The purchase of the two-story mansion at 394 S. Hibiscus Drive, exemplifies the family’s penchant for exclusivity and grandeur, as they join the ranks of elite property owners in one of Miami’s most coveted neighborhoods.
Property documents reveal that Malik Sefrioui, Vice-president of Ciments de l’Atlas, a leading Moroccan cement company, facilitated the acquisition of the sprawling estate from renowned jewelry designer Paul Morelli.
Boasting six bedrooms, seven bathrooms, a pool, and a private boat dock, the residence offers unparalleled luxury living overlooking the picturesque Biscayne Bay.
Rapid appreciation in property value
The $15.375-million transaction represents a substantial increase from the property’s previous sale price of $11.5 million in 2021, signaling a remarkable 37 percent return on investment for the seller. This underscores the robust demand for prime real estate in Miami Beach, fueled by an influx of high-profile buyers seeking refuge in the city’s tropical paradise.
Real estate agents Danny Hertzberg of the Jills Zeder Group and David Solomon of Berkshire Hathaway HomeServices EWM Realty facilitated the transaction, representing the seller and buyer respectively.
A family legacy of success
The acquisition aligns with the ambitious vision of Malik Sefrioui and his father, Anas Sefrioui, whose entrepreneurial prowess has propelled them to the upper echelons of wealth and influence.
Anas Sefrioui, the chairman and CEO of Ciments de l’Atlas (CIMAT) and founder of the Casablanca-based real estate group ADH, boasts a net worth of $1.1 billion, cementing his status as one of Morocco’s most affluent individuals.
As the Sefrioui family expands its global footprint with strategic investments in premier real estate, their latest acquisition epitomizes a lifestyle defined by luxury, sophistication, and unparalleled success.
With Malik Sefrioui at the helm of their diverse business interests, the family’s legacy of prosperity continues to thrive, leaving an indelible mark on the world of luxury living.
