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Key Points
- Alami Lazraq's fortune surged by MAD536.3 million ($54.44 million) in 12 days as ADI stock jumped 16.32% on the Casablanca bourse.
- Lazraq, controlling 51.7% of ADI, now holds shares worth MAD3.82 billion ($388.05 million) after the stock rally.
- ADI stock is up 190.99% year-to-date; a $100,000 investment in January 2024 would now be worth $290,990, reflecting strong returns for investors.
Alami Lazraq, one of Morocco's top business figures, has seen his fortune soar by MAD536.3 million ($54.44 million) over the past 12 days, thanks to a sharp rise in the stock price of Alliances Développement Immobilier (ADI) on the Casablanca bourse.
Lazraq, who controls 51.7 percent of ADI, owns 11.4 million shares, making him the largest shareholder in the company.
The recent rally has boosted the value of his holdings from MAD3.29 billion ($333.61 million) on Oct. 16 to MAD3.82 billion ($388.05 million) by Oct. 28.
Alami Lazraq’s ADI stake adds $47.1 million
Since Oct. 16, ADI’s share price has risen 16.32 percent, climbing from MAD 288 ($29.15) to MAD 335 ($34.06), elevating the company’s market capitalization to over $750 million.
This gain builds on Lazraq's earlier windfall between Sept. 4 and 23, during which his holdings increased by $47.1 million, pushing his total wealth increase from ADI stock to $101.5 million over the past two months.
Strong returns for investors
Founded by Lazraq 25 years ago, ADI has grown into a leading force in North Africa's real estate sector, with an expansive portfolio spanning housing, tourism, and commercial development.
The company’s stock has been a standout performer this year, surging 190.99 percent and generating significant returns for investors.
A $100,000 investment in ADI at the start of 2024 would now be worth $290,990, offering a profit of $190,990—highlighting the company’s potential for those aligned with Lazraq's long-term vision.
As the real estate market in Morocco continues to evolve, Alami Lazraq’s leadership ensures ADI remains a key player, rewarding shareholders while bolstering his spot among Morocco’s richest individuals.
