Cement sales in Morocco, a key indicator of construction activity, have jumped by 6.9% in the first nine months of 2024, according to the Department of Studies and Financial Forecasts (DEPF) within the Ministry of Economy and Finance. This robust growth is fueled by increased demand across various segments of the construction industry, including ready-mix concrete, infrastructure projects, distribution, and mortars.
The biggest leap has been seen in mortar sales, which soared by an astonishing 271.2%, indicating a significant surge in smaller construction and renovation projects. Infrastructure cement deliveries rose by 25.4%, reflecting Morocco’s ambitious public works and infrastructure upgrades, while the ready-mix concrete sector saw a solid 16.7% increase, supporting larger construction projects. The distribution segment, too, posted growth of 2.3%, underscoring steady demand for cement in the general retail and trade channels.
On the financial side, real estate lending has also risen, with outstanding real estate loans reaching 306.7 billion dirhams (MMDH) by the end of August 2024—a 1.6% increase compared to the previous year’s 1.7% growth over the same period. Residential loans specifically rose by 1.5% to 245.9 billion dirhams, showing steady demand in the housing market. Loans allocated to real estate development saw an even more dynamic increase of 5.6%, indicating continued momentum in property and commercial real estate investment.
These figures reflect a thriving construction and real estate market in Morocco, as both the public and private sectors push forward with infrastructure, residential, and commercial projects. The combined rise in cement sales and real estate loans paints an optimistic picture of Morocco’s economic growth, driven by significant investment in building and development across the country.
