Moroccan real estate tycoon Alami Lazraq gains $23.6 million as ADI shares surge

Feyisayo Ajayi -

Key Points

  • Alami Lazraq’s stake in Alliances Developpement Immobiliere surged by $23.61 million in 16 days, following a previous $17.41 million decline.
  • ADI shares increased by 8.28%, boosting market cap close to $600 million and generating substantial gains for Lazraq.
  • ADI’s stock has risen 128.06% year-to-date, turning a $100,000 investment into $228,062, reflecting significant annual growth.

Alami Lazraq, the founder of the Alliances Group and a prominent Moroccan real estate tycoon, has experienced a notable increase in his wealth following a significant rise in his stake in Alliances Developpement Immobiliere (ADI).

According to data tracked by Billionaire.Africa, Lazraq’s stake in ADI has surged by MAD231.64 million ($23.61 million) over the past 16 days, driven by a substantial uptick in the company’s share price. This boost follows a previous decline where Lazraq’s holdings in ADI had fallen by MAD171.16 million ($17.41 million) between July 29 and Aug. 7. 

ADI shares rise 8.28 percent, propelling market cap near $600 million

ADI, headquartered in Casablanca, is an integral part of the Alliances Group, a prominent conglomerate Lazraq founded 25 years ago. The group has solidified its position as a major player in the North African real estate market, boasting a diverse portfolio of assets.

In recent times, ADI shares on the Casablanca bourse have increased by 8.28 percent, from MAD 245.1 ($25.2) on Aug. 13 to MAD 265.4 ($27.3). The recent surge in ADI’s share price has propelled its market capitalization close to $600 million, creating substantial profits for shareholders, including Lazraq, one of Morocco’s wealthiest individuals.

Lazraq holds a significant 51.7-percent stake in ADI, translating to 11,410,669 shares. As a result of the 8.28-percent surge in the group’s share price, the market value of his stake has increased by MAD231.64 million ($23.61 million), from MAD2.8 billion ($285.12 million) on Aug. 13 to MAD3.03 billion ($308.74 million).

Your Money and Your Life

ADI shares are among the best performers on the Casablanca bourse this year, with a year-to-date surge of 128.06 percent. A $100,000 investment at the beginning of the year would now be worth $228,062, representing a profit of $128,062.