How African Real Estate Tycoon Gained $10.7 Million in 18 Days

African real estate mogul, Alami Lazraq, the Founder of Alliances Group, recently experienced a noteworthy surge in the market value of his ADI stake by MAD107.83 million ($10.7 million) in just 18 days.

His remarkable fortune rebounded through his company, Alliances Development Immobilier (ADI) after a downturn in his stake’s market value.

Also, the resurgence of his earnings was buoyed by a surge in the company’s share price on the Casablanca bourse.

ADI, a prominent Casablanca-based holding company operating as a subsidiary of the Alliances Group, has emerged as a key player in North African real estate.

The company witnessed a nine percent surge in shares on the Casablanca Stock Exchange.

This rise climbed from MAD104.95 ($10.417) per share on Dec. 1 to MAD114.4 ($11.355) at present, benefiting shareholders, including Lazraq, significantly.

Alami Lazraq’s ownership in ADI stands at a 51.7 percent stake, totaling 11,410,669 shares in the publicly traded subsidiary of the Alliances Group.

The market value of Lazraq’s stake in ADI soared significantly by MAD107.83 million ($10.7 million).

This surge increased from MAD1.98 billion ($118.87 million) to MAD1.31 billion ($129.57 million) from Dec. 1 to the current report.

This remarkable surge not only solidifies Lazraq’s position as a prominent investor on the Casablanca bourse but also cements his standing as one of Morocco’s most affluent individuals in the real estate sector.