Alami Lazraq, the founder of the Alliances Group and a Moroccan real estate billionaire, has seen the market value of his investment in Alliances Developpement Immobiliere (ADI) fall significantly due to the persistent reduction in the company’s share price on the Casablanca exchange.
According to report, Lazraq, a prominent figure in the North African real estate business, has seen the market value of his investment in ADI fall by $10.12 million in the last 23 days.
ADI is an active member of the Alliances Group, a holding firm based in Casablanca with a wide portfolio of African real estate assets. The main group has established itself as a major player in the North African real estate sector. Lazraq owns 51.7 percent of Alliances Group’s publicly traded subsidiary, ADI, which he formed in 1994.
Since October 19, the company’s share price has fallen 7.67% from $11.564 to $10.676. The company’s shareholders, including Lazraq, have suffered enormous financial losses as a result of this downward trend.
The market value of Lazraq’s holding in the company has declined by $10.12 million as a result of the recent drop in ADI shares, falling from $131.96 million on Oct. 19 to $121.84 million at the time of writing this report.
Despite this loss, Lazraq continues to hold a prominent position as one of the wealthiest investors on the Casablanca market and is regarded as one of Morocco’s most affluent businessmen. The volatile market conditions highlight the difficulties that even the most powerful figures in the area real estate business encounter.