Moroccan real estate tycoon and Alliances Group Founder Alami Lazraq has experienced a substantial boost in his wealth, amassing nearly $20 million from the recent upswing in the market value of his investment in Alliances Developpement Immobiliere (ADI).
According to data tracked by Billionaire.Africa, Lazraq, a prominent figure in the North African real estate industry, has seen his stake in ADI increase by MAD 180.29 million ($17.88 million) over the past 15 days.
Moroccan real estate giant ADI gains nearly nine percent on Casablanca bourse
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.
#The recent increase in ADI shares on the Casablanca bourse, rising 8.98 percent from MAD176 ($17.5458) on March 11 to MAD 191.80 ($19.0141), has seen its market capitalization surge to $420 million. This surge has resulted in significant returns for its shareholders, including Lazraq.
Moroccan real estate mogul Alami Lazraq’s stake in ADI rises
Lazraq, one of Morocco’s wealthiest individuals and a major investor on the Casablanca bourse, holds a majority stake of 51.7 percent in Alliance Group’s publicly traded subsidiary, ADI, representing 11,410,669 shares.
Due to an 8.98-percent increase in the group’s share price, the market value of Lazraq’s ADI stake has risen by MAD180.29 million ($17.88 million) over the past 15 days. The stake’s value climbed from MAD2 billion ($199.14 million) on March 15 to MAD2.19 billion ($217.02 million).
This recent increase not only bolsters Lazraq’s net worth but also reaffirms his status as a leading investor on the Casablanca Bourse and a prominent figure among Morocco’s wealthiest individuals