The real estate loans increased by 1.3% to over 304.8 billion MAD during the first five months of 2024, according to the Economy and Finance Ministry’s Department of Studies and Financial Forecasts (DEPF).
The growth is attributed to a 1.5% rise in housing loans and a 3.8% increase in real estate development loans, DEPF said in the July economic note.
The construction sector ended the first quarter of 2024 with a 2.5% increase in value-added, compared to a 3% decline a year earlier.
This upward trajectory continues from the previous two quarters, with growth rates of +2.9% in Q4 2023 and +0.9% in Q3 2023.
The positive trend is expected to persist into the second quarter of 2024, supported by a 2.8% increase in cement sales—an important indicator of sector activity—after a 3.9% contraction the previous year.
By the end of H1 of 2024, cement sales had risen by 1.1%, driven notably by increased deliveries to the ready-mixed concrete segment (+10%), infrastructure (+32.5%), and precast concrete (+1.1%).