Real estate loans in Morocco grew by 1.3% to exceed 304.8 billion dirhams (MMDH) during the first five months of 2024, according to the Directorate of Studies and Financial Forecasts (DEPF) under the Ministry of Economy and Finance.
This growth is driven by a 1.5% increase in housing loans and a 3.8% boost in loans for real estate development, the DEPF noted in its July economic report.
Furthermore, the construction sector closed the first quarter of 2024 with a 2.5% rise in added value, reversing a 3% decline from the previous year. This sector has maintained an upward trend over the last two quarters, recording a 2.9% increase in Q4-2023 and a 0.9% rise in Q3-2023.
This positive trend is expected to continue into the second quarter of 2024, evidenced by a 2.8% increase in cement sales, a key indicator of sector activity, following a 3.9% decline the previous year.
By the end of the first half of 2024, cement sales had grown by 1.1%, spurred by significant gains in the delivery segments of ready-mix concrete (+10%), infrastructure (+32.5%), and prefabricated materials (+1.1%).
