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Moroccan real estate tycoon Alami Lazraq, founder of Alliances Group, has experienced a notable boost in wealth. The value of his stake in Alliances Development Immobiliere (ADI) has risen by almost $31 million due to the recent rebound in the company’s shares.
According to data tracked by Billionaires.Africa, Lazraq, a top figure in North African real estate, has seen an uptick of MAD308.7 million ($30.8 million) in the market value of his ADI stake in the last 8 days, driven by the recent positive trend on the Casablanca bourse.
This uptick follows a prior decline, where Lazraq’s holdings in ADI rose by MAD57.4 million ($57.4 million) between April 15 and May 5. The value dropped from MAD3.19 billion ($317.75 million) to MAD 2.62 billion ($260.33 million).
ADI shares soar by more than 12.02 percent
ADI, a company headquartered in Casablanca, is part of the Alliances Group, a prominent conglomerate founded by Lazraq 25 years ago. The group is a major player in the North African real estate market, boasting a varied portfolio of assets.
Over the last eight days, ADI shares on the Casablanca bourse rose 12.02 percent, going from MAD 224.95 ($22.439) on May 6 to MAD 252 ($25.137). This pushed the company’s market capitalization beyond $555 million, returning significant profits to shareholders.
Lazraq’s ADI investment soars, market value nears $290 million
Lazraq, one of Morocco’s wealthiest individuals and a prominent investor on the Casablanca bourse owns a substantial 51.7-percent stake in Alliances Group’s publicly traded subsidiary, ADI. This stake is equivalent to 11,410,669 shares.
As a result of the 12.02-percent surge in the group’s share price, the market value of the stake held by the Moroccan real estate tycoon has increased by MAD308.66 million ($30.8 million) over the last 8 days, climbing from MAD2.57 billion ($256.11 million) on May 6 to MAD2.88 billion ($286.91 million).
This increase not only solidifies Lazraq’s position among the leading investors on the Casablanca bourse but also strengthens his standing as one of Morocco’s wealthiest individuals.
