Moroccan real estate tycoon Alami Lazraq has seen his stake increase by 43 million since the start of the new year, thanks to the recent boost in the share price of Alliances Dveloppement Immobilire ADI, a Casablanca-based property developer focused on diverse real estate investments.
Alami Lazraqs ADI stake gains 43 million
Alami Lazraq, who owns 51.7 percent of ADI 11.4 million shares, saw the market value of his stake rise from MAD6.05 billion 654.63 million on Jan. 1 to MAD6.5 billion 697.86 million. This benefited from growing demand and expectations of new developments and infrastructure projects across the country.
