Morocco’s Real Estate Boom: World Cup 2030 and Earthquake Recovery Fuel Sector Growth

After a "major" decline in 2022, induced by the drop in cement sales (-10.6%) and the number of real estate transactions (-15.4%), as well as the rise in construction costs, the tightening of credit conditions and the deterioration of household purchasing power, the Moroccan real estate sector "should experience a notable recovery from 2024, driven by the announcement of Morocco’s joint organization of the 2030 World Cup, as well as the launch of the direct housing assistance program, which aims to renew the approach to supporting access to home ownership and strengthen the purchasing power of households through direct financial support to buyers," the report states.

The program to reconstruct and rehabilitate the areas affected by the Al-Haouz earthquake will also help revive the sector. Estimated at 120 billion dirhams, this program launched in 2024 will continue until 2028. This momentum will also be supported by the continuation of rehousing and resettlement projects under the "Cities without Slums" program, as well as rehabilitation operations for dilapidated housing. In the Casablanca-Settat region, the actions of the Casa Aménagement et Logement (CIE) company have made it possible to rehouse 38,055 families and resettle 4,271 families in 2023, the document notes.

In the field of land conservation, topography and cartography, "efforts have continued to generalize land titling and cover the entire national territory with a modern network and digital maps, in order to support the implementation of public policies for economic and social development, particularly in rural areas," the report states, indicating that "the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC) has issued a total of 462,509 land titles in 2023, including 211,624 from the rural world, an increase of 5% compared to 2022."

And to add: "This increase reflects the Agency’s commitment to facilitating small farmers’ access to land ownership and supporting rural development by improving social and economic conditions, securing land and encouraging agricultural investments." The report also highlights the titling of 1,109,234 hectares in 2023, an increase of 64%, while also noting that the reforms of the public institutions and companies (EEP) sector "require strengthening the professionalism of the governance and management bodies within these institutions."