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Moroccan real estate tycoon and Alliances Group founder Alami Lazraq has experienced a significant decrease in the market value of his stake in Alliances Developpement Immobiliere (ADI) due to the sustained decline in the company’s share price on the Casablanca bourse.
Data tracked by Billionaires.Africa reveals that Lazraq, an influential figure in the North African real estate sector, has witnessed the market value of his stake in ADI plummet by MAD103.27 million ($10.12 million) over the past 23 days.
Market volatility hits ADI and founder Alami Lazraq
ADI is an active member of the Alliances Group, a Casablanca-based holding company with a diverse portfolio of African real estate assets. The leading group has become a key player in the North African real estate market. Lazraq, who founded Alliances Group in 1994, owns 51.7 percent of the group’s publicly traded subsidiary, ADI.
Since Oct. 19, the company’s share price has decreased by 7.67 percent from MAD118 ($11.564) to MAD108.95 ($10.676). This downward trend has led to significant financial losses for the company’s shareholders, including Lazraq.
Despite recent setbacks, Alami Lazraq retains position as one of Morocco’s richest investors
As a result of the recent dip in ADI shares, the market value of Lazraq’s stake in the company has decreased by MAD103.27 million ($10.12 million), falling from MAD1.35 billion ($131.96 million) on Oct. 19 to MAD1.24 billion ($121.84 million) at the time of writing this report.
Despite this setback, Lazraq maintains a prominent position as one of the wealthiest investors on the Casablanca bourse and continues to be recognized as one of Morocco’s most affluent businessmen. The turbulent market conditions underscore the challenges even the most influential figures in the regional real estate sector face.
