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Moroccan construction industry growth estimated to register 6.8% CAGR to 2015
May 26, 2011
By prameelav
The Moroccan construction industry is estimated to grow at a compound annual growth rate (CAGR) of 6.8% to 2015, primarily driven by the infrastructure and residential markets.
Morocco is planning considerable investment in the construction industry to meet the growing domestic demand. The country's growing economy and rising income among the middle class group, which constitutes 30% of the total population, have resulted in increased demand in the country.
The government of Morocco has planned to invest more than US$15 billion by 2015 to upgrade the country's basic infrastructure such as roads and airports. The educational sector is receiving US$418 million for the construction of 4,000 schools in the country, and private sector businesses are competing to venture into Morocco's construction industry to build private schools, hospitals, mega-malls and amusement parks.
As per sectors, the residential and infrastructure sectors are expected to record the highest CAGRs of 6.9% and 7.2% respectively. The commercial construction, institutional construction and industrial construction markets are forecast to grow at CAGRs of 6.7%, 4.9%, and 6% respectively. Growth in the residential sector is expected to be driven by incentives and tax-exemptions granted by the Moroccan government in its 2010 budget to boost demand for homes and benefit social housing developers. The infrastructure sector is expected to witness a boost in demand owing to government investments to improve the country's transport network.
All these and many more facts and figures in addition to an in-depth analysis can be found in the report: The Future of Construction in the Morocco to 2015 published by World Market Intelligence (WMI).
To access the complete report, please visit our premium subscription Construction Intelligence Center product www.worldmarketintelligence.com/ic/construction
Posted by prameelav on May 26, 2011 5:26 AM
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