Anas Sefrioui, the prominent Moroccan businessman and majority stakeholder in Douja Promotion Groupe Addoha (ADH), has encountered a substantial decrease in his wealth following a sharp decline in the market value of his stake amidst recent volatility in the company’s stock on the Casablanca bourse.
According to market data tracked by Billionaires.Africa, Sefrioui’s stake in ADH has plummeted by MAD1.94 billion ($190.91 million) over the past seven days, as local investors have scaled back their positions in the leading real estate group.
This downturn comes on the heels of a period of significant growth for Sefrioui, who experienced a surge of $242.76 million between March 7 and April 8, during which his stake in ADH soared from MAD4.85 billion ($484.24 million) to MAD7.29 billion ($727 million).
ADH: A top player in Morocco’s real estate sector
ADH, a prominent player in Morocco’s real estate landscape, commands a diverse portfolio across the nation, specializing in low-cost housing projects spread across key urban centers such as Casablanca, Ain Aouda, El Jadida, Tetouan, Beni Mellal, Marrakech, Fez, Sale, Tangier, Tamesna, and Rabat.
However, recent market turbulence has cast a shadow over ADH’s performance, with its share price declining by 20.03 percent from MAD37.5 ($3.703) on April 16 to MAD29.99 ($2.962). This decline has pushed the company’s market capitalization below $1.2 billion, resulting in substantial losses for shareholders.
Market downturn impacts Sefrioui’s wealth
As a result of the recent decline in ADH share price, the market value of Sefrioui’s stake in ADH has declined by MAD1.94 billion ($190.91 million) over the past week, declining from MAD9.68 billion ($953.27 million) on April 16 to MAD7.74 billion ($762.37 million) as of the time of this report.
Despite the decrease in his wealth figures, Anas Sefrioui maintains his status as one of the affluent investors on the Casablanca bourse and among Morocco’s most wealthy business figures. ADH’s resilient performance and its significant role in the real estate sector continue to position both the group and Sefrioui at the forefront of Morocco’s economic landscape.
