Home » Moroccan real estate magnate Alami Lazraq makes $10.8 million from ADI stake

Moroccan real estate magnate Alami Lazraq makes $10.8 million from ADI stake

by Omokolade Ajayi
Alami Lazraq

Key Points:

  • Moroccan tycoon Alami Lazraq’s real estate empire sees a boost as ADI share price jumps.
  • Shares in Lazraq’s development company surge nearly 4%, pushing market cap above $550 million.
  • ADI’s year-to-date gain of over 114% offers big returns, highlighting Casablanca’s hot real estate market.

Moroccan real estate magnate Alami Lazraq, founder of Alliances Group, has seen his wealth rise by nearly $11 million due to a surge in the share price of Alliances Development Immobilière (ADI), a subsidiary of his group.

According to data tracked by Billionaires.Africa, Lazraq’s holdings in ADI have grown by MAD107.83 million ($10.83 million) over the past week, driven by a recent uptick on the Casablanca bourse.

This gain follows a period of decline, with Lazraq’s holdings dropping by $17.39 million between May 15 and 23, when his shares in ADI fell from MAD 2.91 billion ($292.93 million) to MAD 2.74 billion ($275.54 million).

Moroccan real estate magnate sees boost in fortune

ADI, a leading real estate developer, is part of the Alliances Group, a leading Moroccan conglomerate established by Lazraq 25 years ago. The group is a major player in the North African real estate market, boasting a diversified portfolio across the region.

Over the past week, ADI’s shares on the Casablanca bourse have climbed 3.93 percent, rising from MAD240.5 ($24.2) on May 24 to MAD249.95 ($25.1), pushing its market capitalization above $550 million and delivering significant returns to shareholders.

As a leading shareholder, Lazraq holds a 51.7 percent stake in the publicly traded company, representing 11,410,669 shares. Fueled by the recent rise in ADI’s share price, Lazraq’s stake has grown by MAD107.83 million ($10.83 million) over the past 7 days, from MAD2.74 billion ($275.6 million) to MAD2.85 billion ($286.43 million).

Your Money and Your Life: ADI up 114.8% YTD

ADI shares are among the best performers on the Casablanca Stock Exchange this year, with a year-to-date surge of 114.8 percent. A $100,000 investment at the beginning of the year would now be worth $214,800, representing a profit of $114,800.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.