Table of Contents
Key Point
- Alami Lazraq’s stake in ADI has dropped by $6.98 million in the last ten days amid a decline in share prices.
- ADI’s shares fell 2.45 percent from July 5 to July 15, decreasing its market capitalization to below $540 million.
- Despite recent declines, ADI shares have surged 106.93% year-to-date, highlighting strong overall performance.
Alami Lazraq, a prominent Moroccan real estate magnate, has seen the market value of his stake in Alliances Développement Immobilier (ADI) decline amid a recent drop in the company’s share price on the Casablanca Bourse.
Lazraq’s stake in ADI has fallen by MAD68.46 million ($6.98 million) over the past ten days. This follows a period of growth, where Lazraq’s stake increased by $7.4 million between June 5 and June 29, rising from MAD2.73 billion ($274.3 million) to MAD2.81 billion ($281.8 million).
North African real estate giant ADI sees shares dip
ADI, a key subsidiary of Alami Lazraq’s 25-year-old conglomerate Alliances Group, is a major player in North Africa’s real estate market with a diversified portfolio.
The company’s shares have dropped 2.45 percent over the past ten days, falling from MAD245 ($24.91) on July 5 to MAD239 ($24.30) at the time of writing. This decline has pushed the company’s market capitalization below $540 million.
Moroccan businessman Lazraq sees stake in ADI weaken amid market slide
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 arm of Alliances Group. This translates to 11,410,669 shares.
The recent share price decline has caused the market value of Lazraq’s stake to fall from MAD2.8 billion ($284 million) on July 5 to MAD2.73 billion ($277.28 million), a decrease of MAD68.46 million ($6.98 million). Despite this setback, Alami Lazraq remains a leading investor on the Casablanca bourse.
Your Money and Your Life: Strong Year-to-Date Performance
While ADI shares have seen a recent decline, the company remains a strong performer on the Casablanca bourse year-to-date.
Since the beginning of the year, ADI shares have surged by an impressive 106.93 percent. This means a $100,000 investment at the start of the year would now be worth $205,376, representing a profit of $105,376.
