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Key Points
- Alami Lazraq’s stake in ADI exceeds $410 million, solidifying his position as one of Morocco’s wealthiest investors on the Casablanca bourse.
- Over 11 days, Lazraq’s holdings gained $47.72 million, as ADI shares surged 10.75%, boosting his stake’s value to $417.37 million.
- ADI’s stock has risen 210% in 2024, making it one of the top performers on the Casablanca exchange, with investors seeing over 200% gains.
Alami Lazraq, one of Morocco’s leading business magnates, has further cemented his position as one of the wealthiest investors on the Casablanca bourse, with the value of his stake in Alliances Développement Immobilier (ADI), a premier real estate firm, surpassing $410 million.
Lazraq holds a 51.7 percent stake in ADI, or 11,410,678 shares. Over the past 11 days, his holdings have gained MAD477.54 million ($47.72 million), boosting the market value of his stake to over $410 million.
Lazraq's stake surges by $47 million
The boost in Lazraq’s wealth comes on the heels of a strong performance in ADI shares. Since Nov. 4, shares in the company have climbed 10.75 percent, rising from MAD324.15 ($32.4) to MAD359 ($36.6). The increase has pushed ADI’s market cap to nearly $795 million, benefiting shareholders.
For Lazraq, this translates to a notable rise in the value of his stake, which jumped from MAD3.7 billion ($369.65 million) on Nov. 4 to MAD 4.18 billion ($417.37 million) on Nov. 16. This gain further cements his position as one of the most influential figures in Morocco’s real estate market.
ADI stock surges 210% in 2024
Founded by Lazraq 25 years ago, ADI has grown into a major player in North Africa’s real estate sector, with a diverse portfolio that includes residential, commercial, and tourism developments.
As of Nov. 16, ADI's stock has risen 210.82 percent year-to-date, making it one of the top performers on the Casablanca exchange. An investor who put $100,000 into ADI at the start of 2024 would now have over $310,000, a gain of $210,820.
Lazraq’s continued expansion in Morocco’s real estate market signals strong prospects for both him and ADI, offering a clear example of strategic growth in high-potential markets.
