The construction industry in Morocco is approximated to be supported by government investments in infrastructure and housing projects over the forecast period from 2015 to 2019.
Construction Industry Supported by Moroccan Government
The government intends to boost its transport and tourism infrastructure, as addressing the country’s housing shortage and modernizing energy delivery by increasing the volume of renewable schemes.
Correspondingly, the Moroccan government introduced the Industrial Acceleration Plan, the Moroccan Project for Solar Energy, the Vision 2020 for the tourism division and the Rawaj Vision 2020 to strengthen business activities. These strategies will generate greater demand for construction services over the prediction period. Thus, in factual terms, the industry’s development is approximated to escalate from a compound annual growth rate of 2.25% in the review period of 2010 to2014 to 4.37% over the prediction period.
As a part of the government’s 2015 Finance Act, Moroccan National Railways (Office National des Chemins de Fer du Maroc – ONFC) plans to invest MAD7.5 billion in the expansion of rail infrastructure. Of the total budget, MAD4.0 billion is to be allocated to the Tangiers-Kenitra high-speed line, which is under construction and estimated to be finished by 2016. The remaining MAD3.5 billion is to be allotted for the upgrading of existing lines. The project is anticipated to support the development of the infrastructure construction market over the forecast period.
In line to enhance transport services and support the tourism division, the Moroccan government revealed its intentions to structure a new Marrakech Airport in 2014. The present airport recorded a passenger capacity of 9.0 million passengers per year in 2014. Nonetheless, the city approximates an upsurge in passenger flow to 14.4 million each year by 2030. The new airport is expected to cost MAD4.3 billion and upon its finishing point the airport is projected to accommodate 10.0 million passengers each year.
In the first quarter of 2015, United Arab Emirates based Tasweek Real Estate Development and Marketing divulged its plan to build a mixed-use project in Agadir, Morocco. The project is estimated to cost MAD202.0 million and approximated to incorporate the construction of residential and healthcare units, hotels, spas and retail outlets. The project will fortify bilateral relations between the UAE and Morocco while inviiting investments from Gulf Corporation Council (GCC) nations.
Mohamed Dekkak