Moroccan real estate magnate Alami Lazraq has seen a notable decline in the market value of his stake in Alliances Developpement Immobilier (ADI), dropping below the $300 million mark following a recent decrease in the company's share price on the Casablanca Bourse.
According to data tracked by Billionaires.Africa , Lazraq's stake in ADI has decreased by MAD 171.16 million ($17.41 million) over the past eight days, bringing its current value to MAD2.83 billion ($287.79 million).
This downturn follows a previous gain of $24.2 million that saw his stake rise from MAD2.73 billion ($276.51 million) to MAD2.97 billion ($300.75 million) between July 12 and 24.
ADI's market capitalization slips below $560 millionADI , a leading real estate developer under the Alliances Group, which Alami Lazraq founded 25 years ago, has experienced a 5.7 percent drop in share prices over the past eight days.
