Moroccan real estate tycoon Alami Lazraq’s stake in ADI dips below $700 million
Alami Lazraq’s stake in ADI falls below $700 million as shares slide, highlighting pressure on Morocco’s property market.
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Alami Lazraq’s stake in ADI falls below $700 million as shares slide, highlighting pressure on Morocco’s property market.
Shares of Alliances Développement Immobilier tumble nearly 10% as investor confidence wanes in Morocco’s property market.
Alami Lazraq’s stake in ADI rises to $610 million, fueled by a nearly 8% surge in shares over 25 days.
Over the past sixteen days, his shares have increased by MAD536.49 million ($53.62 million), continuing the upward momentum seen throughout 2024.
Lazraq, who controls 51.7 percent of ADI, owns 11.4 million shares, making him the largest shareholder in the company.
Real estate mogul Alami Lazraq’s wealth climbs amid soaring ADI shares.