Alami Lazraq, a Moroccan real estate billionaire, shares value in the Casablanca-based property developer Alliances Developpement Immobilier SA (ADI) declined in the last two months. This resulted in a loss of about MAD251.3 million ($25 million) in the stocks’ market value.
Although the Moroccan billionaire made over $40 million in revenue in one-third of 2022, he lost 62.5% due to steps taken by investors to curb risky assets.
To protect their wealth and concentrate on more profitable assets with a proven inflation benchmark, investors cut back on their equity holdings.
By the end of the second quarter of 2022, Alami Lazraq’s shares were worth MAD594.53 ($5.426). Also, by June 2022, the company’s share price dropped from MAD76.55 ($7.62) in May to MAD54.53 ($5.426).
On June 29th, it increased to MAD57.02 and closed at MAD59.00 on June 30th. It rose by MAD 1.98.
Alami Lazraq’s stock dropped from MAD873.5 million ($86.91 million) on May 4 to MAD622.22 million ($61.9 million) at the end of June.
Due to the fluctuating stock price and the decline in market value, Alami Lazraq’s stock dropped from MAD873.5 million ($86.91 million) in May to MAD622.22 million ($61.9 million) at the end of June.
Alliances Developpement Immobilier SA (ADI)
Alliances Développement Immobiliere Ste SA, previously known as Alliances Developpement Immobilier SA, is a Moroccan firm that provides construction and real estate services.
It was founded by the Moroccan billionaire Alami Lazraq in 1994, with its headquarters in Casablanca, Morocco. The real estate tycoon owns 51.6821% of the company’s equity, making him the highest shareholder.
The company’s businesses include intermediate habitat, residential real estate, and tertiary golf resorts and services delivery.
The company is also considered one of the major players in the Moroccan real estate industry. They are on par with businesses such as Douja Promotion Groupe Addoha, Residences Dar Saada S.A., and Delta Holding S.A.