Anas Sefrioui, the Moroccan tycoon behind Douja Promotion Groupe Addoha (ADH) — a distinguished Casablanca-based real estate development group — has recorded a remarkable increase in his fortune this year thanks to sustained bullish pressure on the Egyptian Exchange.
The Moroccan multimillionaire businessman has seen the market value of his stake in ADH soar by MAD482.58 million ($48.46 million) since the beginning of the year — a trend reflective of investors’ interest in the Casablanca-based real estate group.
ADH shares surge by more than 13 percent, Sefrioui other shareholders reap substantial gains
ADH stands as Morocco’s leading property developer and operator — boasting widespread real estate endeavors across the North African nation. The real estate group develops low-cost housing with properties located in towns and cities, including Casablanca, Ain Aouda, Al Jadida, Tetouan, Beni Mellal, Marrakech, Fes, Sale, Tanger, Tamesna, and Rabat, among others.
The recent surge in ADH shares, which amounts to more than 13 percent since the start of the year, has contributed significantly to the gains of its shareholders, including Sefrioui. The group’s shares so far this year have risen from MAD14.33 ($1.439) to MAD16.2 ($1.627), solidifying Sefrioui’s standing as one of the wealthiest investors on the Casablanca bourse.
Sefrioui’s 64.1-percent stake in ADH nears $420 million in 2024
Sefrioui, the visionary founder of the Casablanca-based real estate group, ranks as one of Morocco’s most affluent individuals. He owns a 64.1-percent stake in ADH, solidifying his position among the country’s wealthiest individuals.
According to data tracked by Billionaires.Africa, the market value of Sefrioui’s stake in ADH has risen by MAD482.58 million ($104.26 million) since the start of the year from MAD3.69 billion ($371.32 million) on Jan. 1 to MAD4.18 billion ($419.77 million) at the time of writing.
The substantial increase in his wealth so far this year has solidified his position as one of the richest investors on the Casablanca bourse and also as one of the country’s richest businessmen. This underscores the robust performance of ADH and its pivotal role in the real estate sector, positioning both the company and its founder at the forefront of Morocco’s economic landscape.