According to the Department of Financial Studies and Forecasts (DEPF), outstanding housing loans amounted to 243.8 billion dirhams (billion dirhams) at the end of February 2024, an increase of 1.6% compared to the previous year.
Despite a 1.1% decline in outstanding real estate development loans, total outstanding real estate loans increased by 0.6% and reached MAD 302.1 billion at the end of February 2024, the DEPF said.
In addition, cement sales, the main indicator of activity in the construction sector, fell slightly by 0.4% in the first quarter of 2024, with an increase of 7.5% in the first two months of this quarter and a decrease of 14% in March 2024 due to the closure of construction sites due to significant rainfall.
Despite the decline in March, the infrastructure, ready-mixed concrete and precast segments ended the first quarter of 2024 with a positive performance, contributing to the growth of the construction sector’s added value for the second quarter in a row.
M.Ba.
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