Table of Contents
Key Point
- Alami Lazraq, founder of Alliances Group, has seen his stake in ADI rebound above $300 million, gaining $24 million in just 11 days.
- ADI’s market cap has exceeded $580 million as its shares soar 8.77% on the Casablanca Bourse.
- ADI shares have delivered an impressive 125.06% year-to-date gain, significantly bolstering investors wealth.
Moroccan real estate mogul Alami Lazraq has recently experienced a significant boost in his fortune, with his stake in Alliances Developpement Immobilier (ADI) surging above $300 million, following a strong rally on the Casablanca Bourse.
According to data tracked by Billionaires.Africa, Lazraq’s stake in ADI has increased by MAD239.05 million ($24.24 million) over the past 11 days. This is attributed to heightened investor interest, as indicated by a substantial rise in ADI’s share price.
The recent rally has helped counterbalance a previous $7 million loss that had reduced Lazraq’s stake from MAD2.8 billion ($284 million) to MAD 2.73 billion ($277.28 million) between July 5 and 15.
ADI shares surge 8.77%, market cap exceeds $580 million
ADI, a leading real estate developer, is part of the Alliances Group, a major Moroccan conglomerate established by Alami Lazraq 30 years ago. The group is a significant player in the North African real estate market, boasting a diversified portfolio across the region.
The company has seen its shares on the Casablanca Bourse climb by 8.77 percent over the last eleven days. The share price rose from MAD239 ($24.23) on July 12 to MAD259.95 ($26.36), driving the company’s market capitalization to exceed $580 million.
Lazraq’s ADI stake rises over $24 million, solidifying wealth status
As one of Morocco’s wealthiest individuals and a leading investor on the Casablanca Bourse, Lazraq holds a 51.7 percent majority stake in ADI, amounting to 11,410,669 shares.
The recent increase in ADI’s share price has boosted Lazraq’s stake from MAD 2.73 billion ($276.51 million) on July 12 to MAD 2.97 billion ($300.75 million), reaffirming his status as a prominent figure in Morocco’s financial landscape.
Your Money and Your Life
ADI’s strong performance is part of a broader trend among Moroccan companies, which have seen impressive gains this year.
The stock has surged 125.06 percent year-to-date, significantly enhancing shareholder value.
A $100,000 investment at the start of the year would now be worth $225,060, yielding a profit of $125,060.
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