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Moroccan businessman Anas Sefrioui, the main shareholder of Casablanca-based property developer Douja Promotion Groupe Addoha (ADH), has seen his fortunes rise as the market value of his stock approaches $600 million. The figure has surpassed $568 million.
The recent increase in Sefrioui’s stake solidifies his status as one of Africa’s richest individuals. This gain is due to a persistent rally in ADH shares on the Casablanca exchange. Over the last three weeks, ADH’s share price has increased significantly, increasing the market value of Sefrioui’s investment by MAD890.33 million ($88.19 million).
This current gain is a further boost for Sefrioui, who saw his ADH shareholding increase early this year. Between February 15 and March 3, the market value of his holding increased from MAD4.1 billion ($406.58 million) to MAD 4.75 billion ($471.10 million), representing a $64.5 million gain.
ADH, acknowledged as Morocco’s top property developer and operator, has a strong presence in the country’s real estate sector. The company specializes in cheap housing and serves a number of towns and cities, including Casablanca, Ain Aouda, Al Jadida, Tetouan, Beni Mellal, Marrakech, Fes, Sale, Tangier, Tamesna, and Rabat.
The share price of ADH on the Casablanca market increased by 18.35%, from MAD18.80 ($1.862) on March 4 to MAD22.25 ($2.204). This spike has increased the company’s market value over $885 million, resulting in significant gains for its owners, including Sefrioui.
Moroccan businessman Anas Sefrioui, who runs property development firm Groupe Addoha (ADH), owns a 64.1 percent share in the Casablanca-based publicly traded corporation. This equates to 258,066,665 shares, confirming his status as one of Morocco’s wealthiest individuals.
The recent jump in ADH’s share price has increased the market value of Sefrioui’s investment by MAD 890.33 million ($88.19 million). At the time of writing, his share is worth MAD5.74 billion ($568.76 million), up from MAD4.85 billion ($480.57 million) on March 4.
This enormous growth solidifies Sefrioui’s position as a top investor on the Casablanca stock exchange and reinforces his image as one of Morocco’s most successful entrepreneurs. It also emphasizes ADH’s great success and crucial role in Morocco’s real estate sector, establishing both the company and its founder as important participants in the country’s economic landscape.
