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Moroccan real estate magnate Alami Lazraq, founder and chairman of Alliances Développement Immobilier (ADI), has gained $36 million in just eight days as shares of the real estate giant rallied on the Casablanca Bourse, signaling confidence in Morocco’s property market.
Lazraq’s ADI stake gains $36 million
Lazraq, who owns 51.7 percent of ADI (11.4 million shares), saw the market value of his stake rise from MAD5.59 billion ($610.5 million) on Oct. 2 to MAD5.9 billion ($646.7 million). The gain comes as real estate stocks in Morocco continue to benefit from growing demand and expectations of new developments and infrastructure projects across the country.
The most recent rise comes after a $23.8 million rise between Aug. 29 and Sept. 9, when Lazraq's holdings went from MAD6.1 billion ($671.2 million) to MAD6.32 billion ($695 million). The gains highlight renewed investor confidence in the real estate firm, supported by steady leadership at ADI and improving market sentiment toward large-cap real estate firms.
ADI’s market cap tops $1.2 billion
Founded 25 years ago, ADI is the cornerstone of Groupe Alliances, a conglomerate that has expanded its footprint across Morocco and North Africa. The company has played a large role in building homes, tourism, and infrastructure that are still altering Morocco's modern cities.
Shares of ADI—one of North Africa’s most influential property developers—have surged 13.79 percent over the past eight days, rising from MAD490 ($53.5) to MAD519.1 ($56.7). This has propelled the company's market capitalization above $1.2 billion, making it one of the most watched equities on the Casablanca Bourse this month.
ADI shares down 1.12% YTD
Even though ADI's stock has gone up recently, it is still down 1.12 percent this year. This is because investors are being cautious because of tight liquidity, slower earnings growth, and regulatory uncertainty that could hurt the sector's performance in 2025. But the most recent rise shows that investors are once again interested.
