Global Vision, Local Impact
An article written by Mehdi Kadiri, Vice President at Mercan for the IM Yearbook 2025.
Born to a diplomat father, Executive Vice President at Mercan, Mehdi Kadiri grew up moving to a new country every four years, gaining a deep understanding of diverse cultures and perspectives.
Mr Kadiri’s global upbringing, combined with professional experience across three continents, has profoundly shaped his approach to Mercan’s strategies for fostering cross-border collaborations.
What do you consider the key milestones that have defined Mercan’s evolution?
In 1989 our chairman, Jerry Morgan became one of the pioneers of the Canada Immigrant Investor Program. This initial success allowed us to expand into the U.S. market through the EB-5 programme.
In 2015, we entered the Portuguese market. Mercan quickly emerged as a leading player in the €280K and €350K Golden Visa real estate rehabilitation segment.
To date, we’ve raised over €1.2 billion, partnered with more than 4,000 investors, and developed 31 hotels. This initiative has attracted internationally renowned brands such as Hilton, Marriott, Wyndham, IHG and Hard Rock, cementing Mercan as the fourth-largest hotel group in Portugal, employing over 600 people.
When the real estate category ceased to qualify for the Golden Visa in Portugal, we launched a successful hospitality-focused Golden Visa fund. Additionally, we introduced a ground breaking capital increase category, making Mercan the only player in the industry offering this innovative option.
We also adapted quickly to Greece’s evolving Golden Visa market, focusing on the €250K investment option even after the timeshares category was removed. We are now pioneering two new €250K categories: the conversion of industrial buildings into multi-residential units and the transformation of historical buildings into residential properties.
Mercan’s success is built on its ability to innovate, adapt swiftly, and consistently deliver exceptional value to investors and communities, contributing to a balanced economic footprint.
The Portugal Golden Visa Fund 2024 has garnered significant attention for its innovative approach to investment and residency. What sets this initiative apart from previous programmes?
Unlike traditional real estate based programs, this fund focuses on hospitality investment, aligning with the growing demand for sustainable, high-impact ventures.
By directing funds into Portugal’s hospitality sector, it fosters economic growth while creating significant direct and indirect employment opportunities. Mercan’s track record includes raising over €1.2 billion and spearheading projects that have rehabilitated urban areas and established new benchmarks in ethical investment.
With Mercan Group’s recent focus on investments in Greece, what are the unique opportunities and challenges you foresee in this market?
Greece’s Golden Visa programme offers an exciting opportunity for Mercan. Our innovative projects, such as converting industrial buildings into multi-residential units and transforming historical properties into residences, tap into niche markets while aligning with Greece’s urban development goals.
Challenges like regulatory complexities and timely project delivery are addressed through Mercan’s proven expertise and robust operational framework.
This expansion aligns perfectly with Mercan’s objectives of diversifying its portfolio and creating impactful investment opportunities.
Our 400+ unit industrial-to residential conversion, Greece’s largest Golden Visa initiative to date, reaffirms our industry leadership while contributing to Greece’s economic revitalisation.
