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Moroccan businessman Anas Sefrioui, the controlling shareholder of Casablanca-based property developer Douja Promotion Groupe Addoha (ADH), has seen his wealth surge as the market value of his stake nears $600 million. The figure recently climbed above $568 million.
Sefrioui’s status among Africa’s richest individuals is solidified by the recent rise in his stake. This increase is linked to the sustained rally in ADH shares on the Casablanca bourse. Over the past three weeks, ADH’s share price has experienced significant growth, pushing the market value of Sefrioui’s stake up by MAD890.33 million ($88.19 million).
This latest gain represents a further boost for Sefrioui, who had already seen his ADH stake appreciate earlier this year. Between Feb. 15 and Mar. 3, the market value of his holding rose from MAD4.1 billion ($406.58 million) to MAD 4.75 billion ($471.10 million), reflecting a gain of $64.5 million.
ADH share price climbs 18.35 percent, market cap exceeds $885 million
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.
In recent times, the share price of ADH on the Casablanca bourse has seen a notable 18.35-percent increase, climbing from MAD18.80 ($1.862) on Mar. 4 to MAD22.25 ($2.204). This surge has propelled the company’s market capitalization beyond $885 million, returning substantial returns to its shareholders, including Sefrioui.
Sefrioui’s investment in ADH skyrockets nears $600 million mark
Moroccan businessman Anas Sefrioui, who heads property development firm Groupe Addoha (ADH), holds a controlling stake of 64.1 percent in the Casablanca-based, publicly traded company. This translates to 258,066,665 shares, solidifying his position as one of Morocco’s wealthiest individuals.
According to data tracked by Billionaires.Africa, the recent surge in ADH’s share price has boosted the market value of Sefrioui’s holding by MAD 890.33 million ($88.19 million). At the time of drafting this report, his stake is valued at MAD5.74 billion ($568.76 million), up from MAD4.85 billion ($480.57 million) on March 4.
This significant increase further cements Sefrioui’s status as a leading investor on the Casablanca bourse and underscores his reputation as one of Morocco’s most successful businessmen. It also highlights ADH’s strong performance and its critical role in Morocco’s real estate sector, solidifying both the company and its founder as key players in the country’s economic landscape.
