Moroccan property tycoon Alami Lazraq, founder of Alliances Dveloppement Immobilier ADI, has seen the value of his stake in the real estate company climb back to 700 million after a sharp rally on the Casablanca Stock Exchange.
Alami Lazraqs stake gains 85 million
Lazraq controls a 51.7 percent stake in ADI, or about 11.4 million shares. In less than three weeks, the value of his holding rose by MAD764.52 million 84.95 million, moving from MAD5.45 billion 606.03 million on August 8 to MAD6.22 billion 690.98 million.