Morocco’s cement sales, a key gauge of construction activity, surged 9.4% in 2024, rebounding from near stagnation a year earlier, according to the Directorate of Studies and Financial Forecasts (DEPF).
Growth accelerated in the second half, with cement sales climbing 17.6%, buoyed by sharp increases of 16.5% and 18.9% in the year’s final two quarters, the DEPF pointed out in its latest economic report.
All delivery segments posted gains, led by ready-mix concrete (+30%), precast (+21.1%), construction (+18.1%), and infrastructure (+14.3%). Distribution and mortar sales also rose, up 13.3% and 17%, respectively.
Meanwhile, real estate financing continued to expand, with outstanding real estate loans rising 2.2% by the end of November 2024, surpassing MAD 310.3 billion. Housing loans increased 1.7%, while loans for real estate development jumped 7.2%, up from 2% and 0.5% growth, respectively, a year earlier.
The strong cement demand and credit expansion underscore a broader recovery in Morocco’s construction and real estate sectors.
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