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Morocco Multi-Family Housing Industry Analysis
Morocco's multifamily residential housing construction industry has been seeing significant growth in recent years, particularly in its major cities such as Casablanca, Rabat, and Marrakech. The country's increasing urbanization rate, coupled with a growing population and rising income levels, is driving the demand for affordable and quality housing. According to the National Agency for the Promotion of Employment and Skills (ANAPEC), the real estate sector is expected to create around 420,000 jobs in Morocco by 2021.
The government of Morocco has recognized the importance of the construction industry and has been taking measures to support its growth. In 2020, the government launched the National Housing Strategy (SNL) with the aim of constructing 1 million homes by 2024. The strategy includes a mix of public and private initiatives, with a focus on developing affordable housing for low-income families. The government has also been investing in infrastructure projects, such as the construction of new highways, airports, and high-speed railways, which are expected to create more demand for housing.
However, despite the positive growth, the multifamily residential housing construction industry in Morocco is facing some challenges. One major challenge is the lack of affordable financing for both developers and potential homeowners. This has made it difficult for developers to secure funding for new projects and for low-income families to purchase homes. Another challenge is the lack of skilled labor in the construction industry, which is hindering the industry's growth potential.
Looking towards the future, the outlook for Morocco's multifamily residential housing construction industry is positive. The government's focus on affordable housing and infrastructure development, coupled with the country's growing urbanization rate and population, is expected to continue driving demand for housing. In addition, the government has been implementing measures to improve access to financing for developers and homebuyers, which is expected to help address some of the industry's challenges. The country's strategic location as a gateway to Africa and Europe also presents potential opportunities for the industry to attract foreign investment.
In conclusion, Morocco's multifamily residential housing construction industry is poised for continued growth in the coming years. While there are some challenges to address, the government's initiatives and the country's favorable demographic and economic conditions provide a positive outlook for the industry.
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