Moroccan real estate magnate Alami Lazraq sees $17.4-million decline in ADI stake

Yusuf Abdulfatai -

Key Points:

  • Real estate leader Alami Lazraq’s stake in ADI dropped $17.4 million as the company’s stock fell over 5%.
  • Shares of ADI have declined over 5% in the last week, pushing its market cap below $530 million.
  • Despite the recent dip, ADI is still up over 107% YTD, highlighting the potential for high returns in emerging markets, but also the inherent volatility.

Moroccan real estate magnate Alami Lazraq has seen the market value of his stake in Alliances Developpement Immobiliere (ADI) decrease significantly due to a recent decline in the company’s share price on the Casablanca Bourse.

According to data tracked by Billionaires.Africa, Lazraq’s holding in ADI has dropped by MAD 172.87 million ($17.39 million) over the past eight days.

This comes after a period of gains, with Lazraq’s stake rising by $30.8 million between May 6 and 14. The market value of his holding climbed from MAD2.57 billion ($256.11 million) to MAD2.88 billion ($286.91 million) during that period.

Alliances unit ADI share price falls over 5 percent

ADI is a key subsidiary of Alliances Group, a prominent Moroccan conglomerate founded by Lazraq 25 years ago. The group is a major player in the North African real estate market with a diversified portfolio.

ADI’s shares have declined by over 5 percent in the past eight days, dropping from MAD255.15 ($25.67) on May 15 to MAD240 ($24.147) at the time of drafting this report. This decline has pushed the company’s market capitalization below $530 million.

Lazraq’s ADI stake slips

Lazraq, one of Morocco’s wealthiest individuals and a prominent investor on the Casablanca bourse, holds a significant 51.7-percent stake in ADI, the publicly traded subsidiary of Alliances Group. This stake translates to 11,410,669 shares.

The recent decline in ADI shares has resulted in a MAD172.87 million ($17.39 million) decrease in the market value of Lazraq’s holding over the past eight days. The value has fallen from MAD2.91 billion ($292.93 million) on May 15 to MAD 2.74 billion ($275.54 million).

Despite this setback, Lazraq remains a leading investor on the Casablanca bourse and is still recognized as a prominent Moroccan entrepreneur.

Your Money and Your Life: ADI up 107.79% YTD

While Lazraq’s stake has seen a recent decline, ADI shares are among several companies that have delivered strong returns to investors year-to-date.

Year-to-date, ADI shares on the Casablanca Stock Exchange have surged by an impressive 107.79 percent. This means a hypothetical $100,000 investment at the beginning of the year would now be worth $207,790, representing a profit of $107,790.