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Key Points
- Alami Lazraq’s 51.7% stake in ADI gained $308 million in market value, reaching $468.73 million.
- Alliances Developpement Immobiliere shares have surged 192.2% so far in 2024, boosting its market cap to over $900 million.
- A $100,000 investment in ADI shares in January is now worth $292,200, reflecting $192,200 in profits.
Alami Lazraq, founder of Alliances Group and one of Morocco’s leading business magnates, has seen his wealth rise by over $300 million so far in 2024. This surge is tied to the robust performance of Alliances Developpement Immobiliere (ADI), the real estate group in which he holds a commanding 51.7-percent stake.
Lazraq’s stake, amounting to 11,414,630 shares, has gained MAD3.09 billion ($308.31 million) in market value since the beginning of the year. This impressive growth underscores heightened investor confidence in the North African real estate firm, further solidifying Lazraq’s position as a key player in the region's business landscape.
ADI rallies 192%, hits $900 million market cap
ADI, headquartered in Casablanca, serves as a cornerstone of the Alliances Group, a real estate conglomerate founded by Lazraq 25 years ago. Over the decades, the group has established itself as a dominant force in North Africa’s real estate market, managing a diverse and impressive portfolio of assets.
This year, ADI’s stock has surged 192.2 percent, rising from MAD141 ($14.05) on Jan. 1 to MAD412 ($41.06) on the Casablanca Bourse. This remarkable rally has pushed the conglomerate's market capitalization beyond $900 million, delivering exceptional returns to investors, including Lazraq, whose wealth ranks among the highest in Morocco.
Alami Lazraq's ADI stake jumps $308 million
Thanks to the stock's triple-digit growth, the market value of Alami Lazraq’s stake in ADI has soared by MAD3.09 billion ($308.31 million), climbing from MAD1.61 billion ($160.41 million) at the start of the year to MAD4.7 billion ($468.73 million).
This impressive increase underscores Lazraq’s key role in ADI’s success. His visionary leadership has not only driven ADI’s remarkable growth but also cemented his reputation as a key figure in Morocco’s real estate industry and one of its most prominent entrepreneurs.
Your Money and Your Life
ADI’s strong performance reflects a broader trend of impressive gains among Moroccan companies this year. The company’s stock has surged by 192.2 percent year-to-date, delivering substantial returns to shareholders.
For instance, a $100,000 investment in ADI shares at the beginning of the year would now be valued at $292,200, representing a remarkable profit of $192,200.
