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.