- Alami Lazraqs stake in ADI exceeds 410 million, solidifying his position as one of Moroccos wealthiest investors on the Casablanca bourse.
- Over 11 days, Lazraqs holdings gained 47.72 million, as ADI shares surged 10.75, boosting his stakes value to 417.37 million.
- ADIs stock has risen 210 in 2024, making it one of the top performers on the Casablanca exchange, with investors seeing over 200 gains.
Alami Lazraq, one of Moroccos leading business magnates, has further cemented his position as one of the wealthiest investors on the Casablanca bourse, with the value of his stake in Alliances Dveloppement Immobilier ADI, a premier real estate firm, surpassing 410 million.
Lazraq holds a 51.7 percent stake in ADI, or 11,410,678 shares. Over the past 11 days, his holdings have gained MAD477.54 million 47.72 million, boosting the market value of his stake to over 410 million.
Lazraq's stake surges by 47 millionThe boost in Lazraqs wealth comes on the heels of a strong performance in ADI shares. Since Nov. 4, shares in the company have climbed 10.75 percent, rising from MAD324.15 32.4 to MAD359 36.6. The increase has pushed ADIs market cap to nearly 795 million, benefiting shareholders.
For Lazraq, this translates to a notable rise in the value of his stake, which jumped from MAD3.7 billion 369.65 million on Nov. 4 to MAD 4.18 billion 417.37 million on Nov. 16. This gain further cements his position as one of the most influential figures in Moroccos real estate market.
ADI stock surges 210 in 2024Founded by Lazraq 25 years ago, ADI has grown into a major player in North Africas real estate sector, with a diverse portfolio that includes residential, commercial, and tourism developments.
