In keeping with increased demand for housing, the government is sponsoring large-scale housing projects and continues to support major infrastructure improvements. Foreign investment is fuelling the real estate industry while the growing population of youth is increasing demand for rentals.Cement, a strong component of Morocco’s industrial sector, is highly regional and has been completely privatised for some years. Capacity has risen to keep up with demand, with most of the product going into real estate rather than road or other construction projects. Rising energy costs have pushed cement-producing companies to find more cost-effective sources of power. The construction boom and efforts to improve infrastructure are creating many opportunities for public-private partnerships.
The boom is also creating jobs, yet the local labour force is largely unskilled, causing some contracts go to foreign firms despite the higher labour costs. The real estate sector is seeing record investment, as costs overall are much lower than European sites such as Spain’s Costa del Sol. Most of the demand in Morocco is for moderate housing and a decrease in lending rates has made home-ownership more accessible.
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