Moroccan billionaire Anas Sefrioui’s stake in Addoha rebounds close to $1 billion

Moroccan billionaire Anas Sefrioui has seen the value of his holding in property developer Douja Promotion Groupe Addoha (ADH) climb close to $1 billion, as shares of the Casablanca-listed company extended their rally on improving earnings and renewed investor interest in Morocco’s real estate sector. 

Sefrioui, founder and chairman of Addoha, remains the company’s largest shareholder with a 64.78 percent stake, equivalent to 260.77 million shares. As the stock gained ground over the past three months, the market value of his holding increased substantially. 

Data tracked by Shore.Africa shows the value of Sefrioui’s stake rose by MAD1.57 billion ($170.37 million) between March 3, lifting it from MAD6.78 billion ($737.03 million) to MAD8.35 billion ($907.4 million). The increase brings his holding within reach of the $1 billion mark.

Addoha shares rally on strong earnings 

Addoha’s stock has advanced 23.12 percent over the past three months, rising from MAD26 ($2.83) on March 3 to MAD32.01 ($3.48). The gain has pushed the company’s market capitalization to MAD12.88 billion ($1.4 billion), making it one of the stronger performers on the Casablanca Stock Exchange during the period. 

The rally has been supported by stronger financial results and growing confidence in the outlook for Morocco’s housing market. 

In 2025, Addoha reported consolidated net income of MAD516 million ($56.06 million), up 70 percent from a year earlier. Revenue rose 4.4 percent to MAD2.7 billion ($431.34 million), compared with MAD2.59 billion in the previous year, helped by the completion of several housing projects in Morocco, Ivory Coast and Guinea. 

The company’s earnings per share also increased by more than 66 percent, reflecting stronger profitability and improved operating performance. 

The results reinforced investor confidence in the developer and highlighted the benefits of its growing presence in West Africa, where demand for residential housing continues to expand.

Addoha: A leading figure in Moroccan real estate 

For more than three decades, Addoha has played a major role in Morocco’s housing sector, developing tens of thousands of affordable homes in cities including Casablanca, Ain Aouda, El Jadida and Tetouan. The projects have supported government efforts to address housing shortages and expand urban development. 

Sefrioui began his business career in the early 1980s in paper manufacturing and processing, establishing industrial operations in Casablanca, Tangier, Fez and Agadir. He later co-founded a company specializing in carbonate production with two international partners. 

In 1988, he founded Douja Promotion Groupe Addoha and has served as chairman and chief executive since its creation. He also sits on the boards of several companies. In 2007, he launched Ciments de l’Atlas, a cement producer where he continues to serve as chairman and CEO.

Sefrioui expands beyond Morocco 

Sefrioui has also been expanding his footprint elsewhere in Africa. In February, the Moroccan billionaire announced plans to invest $300 million in a luxury mixed-use development in Abidjan’s Zone 4 district. The project will include four 20-story residential towers, office space and a large shopping center. 

The development signals Addoha’s growing focus on higher-value real estate projects across Africa as it seeks to diversify beyond its traditional affordable housing business.