Boston, MA -- (SBWIRE) -- 06/12/2014 -- The Moroccan construction industry registered a compound annual growth rate (CAGR) of 4.27% during the review period (2009-2013). This growth was supported by government reforms including the liberalization, modernization and privatization of previously government-run sectors. Despite the financial crisis and the Arab Spring uprisings, the government increased expenditure on the construction and renovation of roads, airports and seaports. Construction industry growth is expected to remain healthy over the forecast period (2014-2018), as a result of the government's focus on infrastructure and residential construction. The residential, infrastructure and commercial construction markets collectively accounted for 84.1% of the construction industry's value in 2013. The contribution of these three markets will be significant to overall industry growth, with industry output expected to record a forecast-period CAGR of 5.06%.
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- The construction industry is one of the most important industries for the Moroccan economy, accounting for 14.8% of GDP in 2012. According to the country's national statistics agency, Haut Commissariat au Plan, the construction industry's value add at constant prices rose by 3.2%, from MAD8.1 billion (US$940.7 million) in the fourth quarter of 2012 to MAD8.4 billion (US$996.3 million) in the fourth quarter of 2013, driven by the government's investment in improving the quality of infrastructure, education and healthcare, and in building affordable homes to meet the rising demand.
- Growth in the residential construction market will be supported by a number of affordable housing projects. In 2013, in a bid to increase the supply of affordable housing and create jobs in the country, the International Finance Corporation (IFC) announced its plan to invest MAD420.3 million (US$50.0 million) in Alliances Group, a leading Moroccan home builder, which will help the company to construct 110,000 affordable housing units by 2020.
- Morocco is a leading outsourcing destination in Africa; in 2011, it had an annual revenue of MAD7.3 billion (US$900.0 million) and the sector provided employment to 52,000 people. The country also has 200 call centers employing 18,000 people. The country's outsourcing sector is growing rapidly and is expected to generate MAD14.1 billion (US$1.7 billion) and provide 100,000 new jobs by 2015. This is expected to drive growth in the office buildings construction category over the forecast period.
Companies Mentioned in this Report: Douja Promotion Group Addoha SA, Alliances Developpement Immobilier SA, Jacobs Engineering SA, Delattre Levivier Maroc SA, Societe Generale des Travaux du Maroc - SA
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