Moroccan real estate tycoon and Alliances Group Founder, Alami Lazraq has experienced a notable rebound in his fortune in Alliances Developpement Immobilier (ADI) after a recent downturn in the market value of his stake.
Lazraq — a leading figure in the African real estate sector — has seen the market value of his stake in ADI surge by MAD107.83 million ($10.7 million) over the past 18 days, driven by the recent surge in the company’s share price on the Casablanca bourse.
ADI shares rise by nine percent amid market rebound
ADI, a Casablanca-based holding company with a diverse portfolio of African real estate assets, operates as a subsidiary of the Alliances Group. In recent years, the leading group has become a key player in the North African real estate market.
In recent times, ADI shares on the Casablanca Stock Exchange have surged by nine percent, rising from MAD104.95 ($10.417) per share on Dec. 1 to MAD114.4 ($11.355) at the time of writing – returning impressive market gains to its shareholders, including Lazraq, who ranks among the country’s wealthiest individuals.
Alami Lazraq’s stake in ADI nears $120 million mark as ADI shares surge
Lazraq, who founded Alliances Group in 1994, owns a 51.7-percent stake, amounting to 11,410,669 in the group’s publicly traded subsidiary, ADI.
According to the data tracked by Billionaires.Africa, the market value of his stake in ADI has surged by MAD107.83 million ($10.7 million), climbing from MAD1.98 billion ($118.87 million) on Dec. 1 to MAD1.31 billion ($129.57 million) at the time of writing this report.
This recent increase in the market value of Lazraq’s stake in ADI not only solidifies his position as one of the richest investors on the Casablanca bourse but also as one of Morocco’s wealthiest individuals.
