Moroccan businessman Anas Sefrioui, the majority shareholder in Douja Promotion Groupe Addoha (ADH), a prominent Casablanca-based property developer, recently experienced a notable upswing in his financial standing.
Despite recording a loss of $26 million between Jan. 19 and Feb. 15, Sefrioui has witnessed a significant surge in his wealth, attributable to a more than 15-percent increase in ADH shares over the past two weeks.
Data compiled by Billionaires.Africa indicates that Sefrioui’s stake in ADH has seen a remarkable rise of MAD650.3 million ($64.5 million) in market value during the last fifteen days. This surge is credited to a renewed interest among investors in ADH on the Casablanca stock exchange.
ADH, recognized as Morocco’s leading property developer and operator, maintains a robust presence in the nation’s real estate sector. Specializing in affordable housing, the company extends its offerings across various towns and cities, including Casablanca, Ain Aouda, Al Jadida, Tetouan, Beni Mellal, Marrakech, Fes, Sale, Tangier, Tamesna, and Rabat.
Sefrioui, the Moroccan tycoon heading ADH, commands a majority stake of 64.1 percent in the publicly listed Casablanca-based real estate group. This translates to 258,066,665 shares, positioning him as one of Morocco’s most affluent individuals.
Over the past fifteen days, ADH’s share price on the Casablanca stock exchange has seen an impressive 15.87-percent increase, rising from MAD15.88 ($1.576) on Feb. 15 to MAD18.4 ($1.826). This surge has propelled the company’s market capitalization beyond $730 million, delivering substantial gains to its shareholders, including Sefrioui.
As a result of this double-digit surge in ADH’s share price, the market value of Sefrioui’s stake in the real estate company has risen by MAD650.33 million ($64.52 million), escalating from MAD4.1 billion ($406.58 million) on Feb. 15 to MAD4.75 billion ($471.10 million).
This significant increase solidifies Sefrioui’s position as one of the wealthiest investors on the Casablanca bourse and one of Morocco’s most prosperous businessmen. It underscores ADH’s robust performance and pivotal role in the country’s real estate sector, establishing the company and its founder as leaders in Morocco’s economic landscape.
