Table of Contents
Key Points
- Alami Lazraq’s stake in ADI lost $33.7 million in value over 23 days as shares slid on the Casablanca Stock Exchange.
- ADI stock fell 5.29% since July 9, pushing the company’s market value below $1.2 billion amid weaker investor interest.
- Year-to-date, ADI shares are down 0.42%; a $100,000 investment on Jan. 1 is now worth $99,580.
Moroccan businessman Alami Lazraq, founder of the real estate and infrastructure firm Alliances Développement Immobilier (ADI), has taken a major financial hit as the company’s shares tumbled on the Casablanca Stock Exchange.
Lazraq sees $33 million decline
Lazraq holds a 51.7-percent stake in ADI, amounting to 11.41 million shares. Over the past 23 days, the value of that stake has dropped by MAD305.81 million ($33.69 million), as investor interest in the Casablanca-based company weakened, dragging the stock down.
It’s a sharp contrast to what happened just weeks earlier. Between June 19 and July 4, ADI shares had rallied strongly, adding MAD416.49 million ($46.4 million) to Lazraq’s fortune and lifting the value of his stake from MAD5.13 billion ($572 million) to MAD5.55 billion ($618.4 million). Much of that gain has now been erased.
Recent decline wipes out earlier gains
ADI, the real estate arm of Morocco’s Alliances Group, has long been at the center of founder Lazraq’s business empire. Based in Casablanca, the company has played a key role in shaping the group’s presence across North Africa since Lazraq launched the venture 25 years ago.
But recent weeks have brought pressure. Shares of Alliances Développement Immobilier have slipped by 5.29 percent—from MAD507 ($55.86) on July 9 to MAD480 ($52.91) at the time of reporting. That drop has pushed ADI’s market value below $1.2 billion, reflecting a wave of caution in the region’s real estate sector.
For Lazraq, the founder and largest shareholder, the impact has been personal. His 51.7-percent stake in ADI, once valued at MAD5.79 billion ($637.41 million), is now worth MAD5.48 billion ($603.72 million), marking a $33.69 million drop in just a few weeks.
ADI shares down year-to-date
Although ADI has solid fundamentals and a balanced mix of residential, tourism, and commercial developments, its stock has dipped slightly this year. Since the start of 2025, the share price is down 0.42 percent. A $100,000 investment on January 1 would now be worth $99,580—a small paper loss of $420.
The decline comes as Morocco’s real estate market faces tighter liquidity and more cautious investor sentiment. Even so, ADI—and the wider holdings of its chairman, Alami Lazraq—remain closely watched by institutional investors and wealthy individuals seeking exposure to North Africa’s expanding cities.
