Moroccan real estate magnate Alami Lazraq gained 78.63 million in 10 days as ADI shares surged 13.8 on Casablanca Bourse, boosting investor confidence.
Lazraqs 51.7 stake in ADI rose from 570 million to 649 million amid regional infrastructure boom and rising property demand.
Despite recent gains, ADI shares are down 0.95 YTD due to liquidity constraints, slower earnings, and regulatory uncertainties in Moroccos property market.
Moroccan real estate magnate Alami Lazraq, founder and chairman of Alliances Dveloppement Immobilier ADI, has added 78.63 million to his fortune in just ten days, as shares of his company surged on the Casablanca Bourse, underscoring renewed investor confidence in Moroccos property market.
Lazraq, who controls 51.7 percent of ADIequivalent to 11.4 million sharessaw the market value of his stake rise from MAD5.21 billion 570.38 million on May 27 to MAD5.93 billion 649.01 million as of June 6. This sharp rebound reflects a broader rally in Moroccan real estate equities, driven by rising demand and expectations of a regional infrastructure boom.
This is a reversal from early May when ADI came under pressure. Between May 6 and May 22, Lazraqs stake lost MAD570.53 million 61.78 million in market value, falling from MAD6.39 billion 674.79 million to MAD5.37 billion 551.53 million amid concerns over sector liquidity and macroeconomic headwinds.
ADI shares rally 13.8 in ten daysADI, based in Casablanca, is the backbone of the Alliances Group, a real estate conglomerate founded by Alami Lazraq 25 years ago. Over the years, the group has built a strong reputation in North Africas real estate market, expanding its portfolio and strengthening its position in the industry.
Shares of ADI, a flagship player in North Africas real estate sector, have surged 13.79 percent over the past ten days, climbing from MAD457 49.99 to MAD520 56.88. The rally has pushed ADIs market capitalization beyond the 1.2 billion mark, making it one of the most closely watched stocks on the Casablanca exchange this month.