Key Points:
- Anas Sefrioui, majority owner of developer ADH, saw his wealth jump nearly $30 million due to a recent stock surge.
- The Casablanca-based company’s shares climbed over 3.7 percent, pushing its market cap above $1.2 billion.
- ADH’s performance this year highlights potential returns for investors in Morocco’s booming real estate sector.
Moroccan businessman Anas Sefrioui, the majority shareholder of prominent Casablanca-based property developer Douja Promotion Groupe Addoha (ADH), has seen his wealth rise significantly in recent days. The market value of his stake has jumped nearly $30 million, fueled by a surge in the company’s stock price.
According to data tracked by Billionaires.Africa, Sefrioui’s stake in ADH has climbed MAD296.78 million ($29.87 million) over the past 11 days. This reversal follows a prior decline where his stake value decreased by nearly $90 million between April 29 and May 8, falling from MAD 8.64 billion ($861.71 million) to MAD 7.74 billion ($771.91 million).
ADH’s stock climbs 3.76 percent, market cap exceeds $1.2 billion
ADH is a prominent player in Morocco’s real estate sector, boasting a diversified portfolio across the country. The company specializes in low-cost housing projects spread across key urban centers like Casablanca, Ain Aouda, El Jadida, and Tetouan.
On the Casablanca stock exchange, ADH’s share price has risen by an impressive 3.76 percent, from MAD 30.60 ($3.080) on May 9 to MAD 31.75 ($3.195) at the time of writing. This increase has pushed the company’s market capitalization above $1.2 billion, yielding substantial gains for its shareholders, including Sefrioui.
Anas Sefrioui’s stake strengthens position
A visionary founder and one of the wealthiest businessmen in the MENA region, Sefrioui holds a 64.1-percent stake in ADH (258,066,665 ordinary shares).
The recent share price spike has caused the market value of his stake to increase by MAD296.78 million ($29.87 million), from MAD7.9 billion ($794.69 million) on May 9 to MAD8.19 billion ($824.56 million) at the time of drafting this report.
This increase solidifies Sefrioui’s status as a top investor on the Casablanca bourse and one of Morocco’s wealthiest businessmen, highlighting ADH’s strong performance and leadership in the country’s real estate sector.
Your Money and Your Life
ADH shares have been among the top performers for individual investors this year, delivering impressive gains. Investors aiming to emulate the wealth-building strategies of billionaires by owning stakes in innovative companies like ADH have seen significant returns in 2024.
ADH’s shares on the Casablanca Stock Exchange have skyrocketed by more than 114 percent year-to-date. Consequently, a $100,000 investment in ADH at the start of the year would now be valued at $214,086, reflecting a profit of $114,086.
