Alami Lazraq, a notable Moroccan real estate entrepreneur, has seen the market value of his holding in Alliances Développement Immobilier (ADI) decrease despite a recent slump in the company’s share price on the Casablanca Bourse.
Lazraq’s investment in ADI has declined by MAD68.46 million ($6.98 million) in the last ten days. Lazraq’s investment increased by $7.4 million between June 5 and June 29, from MAD2.73 billion ($274.3 million) to MAD2.81 billion ($281.8 million).
ADI, a subsidiary of Alami Lazraq’s 25-year-old conglomerate Alliances Group, is a significant player in North Africa’s real estate industry, with a diverse portfolio.
The company’s shares have fallen 2.45% in the last ten days, from MAD245 ($24.91) on July 5 to MAD239 ($24.30) at the time of writing. This fall has brought the company’s market capitalization below $540 million.
Lazraq, one of Morocco’s wealthiest persons and a prominent investor on the Casablanca stock exchange, owns a significant 51.7% interest in ADI, Alliances Group’s publicly traded business. This translates with 11,410,669 shares.
The latest share price dip has reduced the market value of Lazraq’s interest from MAD2.8 billion ($284 million) on July 5 to MAD2.73 billion ($277.28 million), a decrease of MAD68.46 million. Despite this setback, Alami Lazraq remains a top investor on the Casablanca exchange.
While ADI shares have recently declined, the company has been a great performer on the Casablanca bourse year to date.
Since the start of the year, ADI shares have increased by an amazing 106.93 percent. This indicates that a $100,000 investment made at the beginning of the year is now worth $205,376, resulting in a $105,376 profit.