Moroccan real estate mogul Alami Lazraq faces $118 million loss as ADI shares slump

Moroccan real estate tycoon Alami Lazraq has witnessed over $115 million in the market value of his stake in Alliances Développement Immobilier (ADI), with his holdings now below $550 million following a recent dip in the company’s share price on the Casablanca Bourse. 

ADI share slump erodes Lazraq’s wealth
Lazraq, who owns 51.7% of ADI (11.4 million shares), has incurred losses of MAD1.11 billion ($118.32 million) over the past 91 days, as selling pressures on the local bourse triggered a significant decline in the company’s share price. 

Earlier gains in January wiped out in weeks
This downturn comes after a previous gain of over $40 million, which he experienced in the first 9 days of 2026, when his stake increased from MAD6.05 billion ($654.63 million) on Jan. 1 to MAD6.5 billion ($697.86 million), benefiting from growing demand and expectations of new developments and infrastructure projects across the country.

Alliances Group shows operational resilience
ADI, a leading real estate developer under the Alliances Group, which Alami Lazraq founded over 30 years ago, by Mohamed Alami Nafakh Lazraq. The group has solidified its position as a major player in the North African real estate market, boasting a diverse portfolio of assets.

Over the past 91 days, the company’s shares have plunged by 18.3%, dropping from MAD530 ($56.62) on January 1 to MAD433($46.26), causing the company’s market capitalization to reduce to MAD9.56 billion ($1.02 billion).

Strong footprint across Morocco despite share slump
The recent downturn in ADI’s share price has resulted in a loss of MAD1.11 billion ($118.32 million) for Lazraq, reducing the value of his stake from MAD6.05 billion ($646.48 million) on January 1 to MAD4.94 billion ($528.16 billion). Despite the recent dip, Lazraq’s position remains strong, having previously capitalized on a significant surge in the value of his ADI holdings this year.

This decline comes as Alliances Group released its full-year 2025 update last month, highlighting resilient growth despite a challenging real estate environment. Revenue rose 3% to MAD2.43 billion ($259.64 million), up from MAD2.36 billion ($252.16 million) a year earlier, while collections increased 17% to MAD1.93 billion ($206.22 million). Meanwhile, net debt declined 24% to MAD1.3 billion ($138.9 million), reflecting improved financial strength and disciplined balance sheet management.