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Alami Lazraq, the prominent Moroccan real estate magnate and founder of Alliances Group, has witnessed a significant surge in wealth, amassing an additional $22.87 million from the recent upswing in the market value of his stake in Alliances Developpement Immobiliere (ADI), a leading Casablanca-based real estate company.
According to data tracked by Billionaire.Africa, Lazraq’s stake in ADI has experienced a substantial increase of MAD229.92 million ($22.87 million) in the last 25 days, attributed to the sustained rise in the company’s share price.
Moroccan real estate giant ADI experiences double-digit share price surge
ADI, headquartered in Casablanca, is an integral part of the Alliances Group, a prominent conglomerate Lazraq founded 25 years ago. The group has solidified its position as a major player in the North African real estate market, boasting a diverse portfolio of assets.
Lazraq, recognized as one of Morocco’s wealthiest individuals and a significant investor on the Casablanca bourse, holds a majority stake with 51.7 percent ownership in Alliances Group’s publicly traded subsidiary, ADI, totaling 11,410,669 shares.
In the last 25 days, ADI shares on the Casablanca bourse rose by 13.66 percent, climbing from MAD154.85 ($15.407) on Feb. 15 to MAD176 ($17.411). Investors are bolstering their positions in the company due to its ongoing expansion in the regional real estate industry, marked by strategic acquisitions, new deals, contracts, and partnerships.
$22.87 million market value jump solidifies Alami Lazraq’s status as Morocco’s real estate powerhouse
The 13.66 percent surge in the group’s share price has translated to a substantial increase in the market value of Lazraq’s stake, elevating it from MAD1.77 billion ($175.77 million) on Feb. 15 to MAD 2 billion ($198.64 million) at the time of writing.
This noteworthy $22.87 million increase not only solidifies Lazraq’s standing as one of Morocco’s most affluent real estate entrepreneurs but also underscores his role as a high-value investor on the Casablanca bourse.
The surge in Alliances Developpement Immobiliere’s market value further establishes Alami Lazraq’s influence in the North African real estate landscape.
