Alami Lazraq's Stake In Moroccan Real Estate Firm Gains Over 300 Million

Alami Lazraq, founder of Alliances Group and one of Moroccos leading business magnates, has seen his wealth rise by over 300 million so far in 2024. This surge is tied to the robust performance of Alliances Developpement Immobiliere ADI, the real estate group in which he holds a commanding 51.7-percent stake.

Lazraqs stake, amounting to 11,414,630 shares, has gained MAD3.09 billion 308.31 million in market value since the beginning of the year. This impressive growth underscores heightened investor confidence in the North African real estate firm, further solidifying Lazraqs position as a key player in the region's business landscape.

ADI, headquartered in Casablanca, serves as a cornerstone of the Alliances Group, a real estate conglomerate founded by Lazraq 25 years ago. Over the decades, the group has established itself as a dominant force in North Africas real estate market, managing a diverse and impressive portfolio of assets.

This year, ADIs stock has surged 192.2 percent, rising from MAD141 14.05 on Jan. 1 to MAD412 41.06 on the Casablanca Bourse. This remarkable rally has pushed theconglomerate's market capitalization beyond 900 million, delivering exceptional returns to investors, including Lazraq, whose wealth ranks among the highest in Morocco.

Thanks to the stock's triple-digit growth, the market value of Alami Lazraqs stake in ADI has soared by MAD3.09 billion 308.31 million, climbing from MAD1.61 billion 160.41 million at the start of the year to MAD4.7 billion 468.73 million.