Table of Contents
Key Points
- Anas Sefrioui's stake in Douja Promotion Groupe Addoha drops by $161 million in 19 days due to market volatility.
- Despite a $160 million loss, Sefrioui's wealth remains strong at $1.6 billion, ranking him 1,954th richest globally.
- Addoha's stock falls 12.3% in 19 days, pushing its market cap below $1.8 billion, but year-to-date gains remain positive.
Moroccan real estate mogul Anas Sefrioui has experienced a significant financial blow, as the market value of his stake in Douja Promotion Groupe Addoha (Addoha) has dropped by nearly $161 million since Mar. 27. This decline comes after a period of volatility in the company's shares on the Casablanca bourse.
Sefrioui, the founder and majority shareholder of the Casablanca-based real estate group, holds 64.78 percent of the company, around 260.8 million shares. Despite maintaining his position among Africa’s wealthiest individuals, the value of his stake has fallen by MAD1.49 billion ($160.93 million) in just 19 days, pushing the total worth of his investment below $1.2 billion.
This follows a notable rise in his holdings earlier in the year. Between Jan. 1 and Mar. 5, Sefrioui saw the market value of his investment increase by $84.62 million, with his stake climbing from MAD10.25 billion ($1.04 billion) to MAD11.08 billion ($1.12 billion). The recent dip underscores the difficulties investors are facing, as global economic uncertainty and broader market conditions continue to impact sentiment.
Addoha's stock takes a hit, market cap falls below $1.2 billion
Addoha, with its real estate projects spanning across Casablanca, Rabat, Tangier, Marrakech, and Fes, has been a key player in Morocco's housing sector, drawing both local and international investors.
Recently, in March, the company’s subsidiary, Addoha CIV, secured a $27 million loan from the International Finance Corporation (IFC) to develop 5,600 affordable housing units in Greater Abidjan. This project aims to provide homes for 23,000 people and help address the housing shortage in Côte d’Ivoire.
However, despite these promising efforts, Addoha’s stock on the Casablanca bourse has taken a significant dip, falling by 12.34 percent over the past 19 days. From MAD46.45 ($5) on Mar. 27, the price dropped to MAD40.72 ($4.39), causing the company’s market capitalization to fall below $1.8 billion. This decline has led to considerable losses for shareholders, including company founder Anas Sefrioui.
Sefrioui’s stake loses $160 million
As a result of the recent stock slump, the value of Sefrioui’s stake in Addoha has dropped by MAD1.49 billion ($160.93 million), from MAD12.11 billion ($1.3 billion) on March 27 to MAD 10.62 billion ($1.14 billion) today. Despite these short-term losses, Sefrioui’s wealth remains robust at $1.6 billion, according to Forbes, placing him as the world’s 1,954th richest person.
Despite the recent downturn, Addoha’s performance for the year is still positive. Its stock has gained 3.61 percent year-to-date. An investment of $100,000 in Addoha at the start of 2025 would now be worth $103,610, reflecting a modest gain of $3,610.
