Morocco’s construction industry is expected to be valued at US $18bn in 2021 in real terms, measured at constant 2010 US dollar exchange rates; this is according to Timetric’s Construction Intelligence Center (CIC).
According to the report, residential construction was the largest market in the Moroccan construction industry during the review period, accounting for 26.9% of its total value in 2016. The market is expected to maintain its leading position over the forecast period, accounting for 28.4% of the industry’s total value in 2021.
Social housing units
Market growth over the forecast period is expected to be supported by government efforts to provide low-cost housing to the country’s low- and middle-income populations. Accordingly, the Ministry of Housing and Urban Planning has announced plans to construct 150,000 new social housing units every year until 2020.
Commercial construction was the second-largest market in the industry during the review period, accounting for 26.4% of its total value in 2016. Market expansion over the forecast period is expected to be supported by the government’s focus on developing the country’s tourism sector, which will drive funds towards leisure and hospitality building projects over the forecast period.
“Government plans to set up an organized retail sector in the country are also expected to contribute to a positive outlook for the retail buildings category over the forecast period,” comments Danny Richards, Lead Economist at Timetric’s CIC.
The industry’s output value in real terms recorded a compound annual growth rate (CAGR) of 2.3% during the review period, and is expected to post a forecast-period CAGR of 3.7%.
About the Construction Intelligence Center
The Construction Intelligence Center (CIC) is the most comprehensive source of data and analysis on the global construction industry. The Construction Intelligence Center is a product of Timetric, which provides information solutions and technologies that enable organizations to drive business value and manage business risk.
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