Alami Lazraq, Moroccan Real Estate Tycoon, Gains Nearly 90 Million In Nine Days
- ADI shares climb 14.71 in nine days, boosting its market value past 1.3 billion and strengthening its position on the Casablanca Bourse.
- Alami Lazraq gains 89.7 million from ADIs stock rally, increasing his stakes market value to nearly 700 million.
- ADI up 27.19 YTD, turning a 100,000 investment into 127,190, as investor confidence in North African real estate remains strong.
Moroccan real estate tycoon Alami Lazraq, founder of the Alliances Group and a key player in the sector, has seen another boost in the market value of his stake in Alliances Dveloppement Immobilier ADI as the companys shares continue to climb on the Casablanca Bourse.
Lazraq, who owns 51.7 percent of ADIequivalent to 11.4 million sharesadded MAD893.46 million 89.7 million to his portfolio in just nine days. This reflects growing investor confidence in ADI, further strengthening Lazraqs standing among the wealthiest investors on the Casablanca Bourse .
This latest gain comes after an earlier increase of 37.2 million between Jan. 21 and Feb. 5 , when the value of his stake rose from MAD5.77 billion 575.63 million to MAD6.15 billion 612.83 million.
ADI shares surge, market cap hits 1.3 billionADI , 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.
Its stock has been on a strong run, climbing 14.71 percent in the past nine days from MAD532.2 53.3 on Feb. 11 to MAD610.5 61.14 on the Casablanca Bourse. The surge has pushed the companys market value past 1.3 billion, rewarding shareholders, including Lazraq, with solid gains.