Moroccan businessman Alami Lazraq’s real estate stake falls below $700 million

Key Points

• Moroccan tycoon Alami Lazraq has lost MAD507.77 million ($52.22 million) in 19 days as ADI’s stock dropped 7.3% on the Casablanca Bourse.
• ADI’s share price fell from MAD610.5 to MAD566, cutting its market capitalization below $1.3 billion and reducing Lazraq’s stake to $664.26 million.
• Despite the downturn, ADI remains resilient, with a 14.58% gain year-to-date, turning a $100,000 investment into $114,580.

Moroccan real estate tycoon Alami Lazraq, the founder of Alliances Group and one of the country’s richest men, has seen the value of his stake in Alliances Développement Immobilier (ADI) fall below $700 million after a recent drop in the company’s share price.

Lazraq’s ADI stake drops $52.22 million

Lazraq, who holds a 51.7-percent stake in ADI—equal to 11,410,678 shares—has lost MAD507.77 million ($52.22 million) in the past 19 days as investors on the Casablanca Bourse pulled back from the Casablanca-based real estate and investment group.

The decline comes after a strong run earlier this year. Between Feb. 11 and 19, the value of Lazraq’s holding jumped by $89.7 million, rising from MAD6.07 billion ($608.13 million) to MAD6.97 billion ($697.61 million) as investor confidence in ADI grew. But the recent downturn suggests some investors are cashing in on gains, while broader market uncertainty weighs on the stock.

ADI stock declines, Lazraq’s stake drops

ADI, based in Casablanca, is the backbone of the Alliances Group, a real estate conglomerate founded by Alami Lazraq 25 years ago. Over time, the group has built a strong reputation in North Africa’s real estate market, expanding its portfolio and solidifying its presence in the industry.

In the past 19 days, ADI’s stock on the Casablanca Bourse has dropped 7.3 percent, falling from MAD610.5 ($62.8) on Feb. 19 to MAD566 ($58.2). This decline has pushed the company’s market capitalization below $1.3 billion, dealing a notable blow to shareholders, including Lazraq.

With the dip in share price, the value of Lazraq’s stake has taken a significant hit, losing MAD507.77 million ($52.22 million) over the same period. His holdings, valued at MAD6.97 billion ($716.5 million) on Feb. 19, have now fallen to MAD6.46 billion ($664.26 million) as of this report.

Your Money and Your Life

Despite the recent downturn, Lazraq remains a major force in Morocco’s real estate sector, with ADI holding its ground on the Casablanca Bourse. While market swings have affected his stake, the company’s stock is still up 14.58 percent this year, showing resilience despite the fluctuations. An investor who put in $100,000 at the start of the year would now have $114,580—a gain of $14,580.