UPDATE 1-Moroccan property firm sees big demand after IPO

(Adds detail on wider market, quote)

RABAT, July 17 (Reuters) - Moroccan property firm Alliances Developpement Immobilier (ADI.CS: Quote, Profile, Research) failed to trade after listing on Thursday as bids came in above a stock market trading limit and traders talked up the company's earnings prospects.

The company raised 2 billion dirhams ($275.5 million) in its IPO by selling 2.915 million shares for 685 dirhams each. The stock was bid at 1,700 dirhams on Thursday morning.

Alliances expects its net profit to jump five-fold between 2007 and 2010 on a real estate and tourism boom in the north African country.

The company specialises in studying, building and selling house and tourism developments, often in partnership with major operators including Accor (ACCP.PA: Quote, Profile, Research), Four Seasons Hotels, CLub Med (CMIP.PA: Quote, Profile, Research) and TUI (TUIGn.DE: Quote, Profile, Research).

"Moroccan accounting standards mean what you see in revenues for 2010 you see in orders today. They still have to deliver, but the sales strength is there," said a senior analyst in Casablanca who asked not to be named.

Real estate firms have helped power the Casablanca stock market to records in recent years as investors rushed to buy shares in property stocks like Addoha (ADH.CS: Quote, Profile, Research) and Cie. Generale Immobiliere (CGI.CS: Quote, Profile, Research).

The benchmark MASI index .MASI has climbed 14 percent this year after rising 33 percent in 2007 and 71 percent in 2006, resisting turbulence on global markets.

The index was down 0.16 percent at 14,371.79 points at 1253 GMT on Thursday.