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Moroccan real estate tycoon Alami Lazraq has seen his stake increase by $43 million since the start of the new year, thanks to the recent boost in the share price of Alliances Développement Immobilière (ADI), a Casablanca-based property developer focused on diverse real estate investments.
Alami Lazraq’s ADI stake gains $43 million
Alami Lazraq, who owns 51.7 percent of ADI (11.4 million shares), saw the market value of his stake rise from MAD6.05 billion ($654.63 million) on Jan. 1 to MAD6.5 billion ($697.86 million). This benefited from growing demand and expectations of new developments and infrastructure projects across the country.
ADI shares have gained 6.6 percent so far this year, climbing from MAD530 ($57.35) to MAD565 ($61.13). That increase has propelled the company’s market capitalization to MAD12.47 billion ($1.35 billion), thus reinforcing its position as one of the most closely watched property stocks in North Africa.
These gains come as ADI prepares to release its full-year results, following a strong half-year performance. Sales rose 10.33 percent to MAD1.33 billion ($144.29 million), while revenue surged 65.65 percent to MAD1.3 billion ($140.77 million). Net income climbed 27.73 percent to MAD210.27 million ($22.75 million), according to results reported in September 2025.
Building a national footprint
Founded about 25 years ago, ADI sits at the center of Groupe Alliances, the wider business group built by Lazraq. The company is a top player in Morocco’s real estate sector, with projects spanning residential housing, tourism developments and large-scale infrastructure. Many of its projects have helped shape expanding urban areas and new economic zones across the country.
The rise in ADI’s share price also reflects broader sentiment toward Morocco’s economy, where authorities continue to promote housing programs and investment in transport and tourism. For Lazraq, the share-price rise translated into a sharp increase in the paper value, underscoring how closely his personal wealth remains tied to ADI’s performance.
