Morocco Set to End Tax Breaks for Social Housing, Sparking Concerns

Although the real estate sector has benefited from two measures as part of the 2021 Finance Bill, no official mention has been made regarding the renewal or not of the incentives related to social housing that are due to expire on December 31, 2020. But the absence of exemption measures in the 2021 Finance Bill already confirms the non-renewal of these incentives, reports Ecoactu.

This silence from the State is not surprising, since the State had previously announced its intention not to renew this system that has reached its limits. This means that the future of this sector is uncertain today.

Operators denounce the slowness of the government, which seems rather preoccupied with the management of the pandemic, forgetting a segment of the ecosystem that represents 15% of the national GDP. "We are disappointed by the absence of measures concerning the social and middle class, especially since the deadline for tax incentives is approaching soon," lamented Taoufik Kamil, president of the National Federation of Real Estate Developers (FNPI), regretting the non-consideration of his proposals to revive this segment from its ashes.

Furthermore, the Federation fears a failure of the efforts made and the resources allocated to eliminate slums in 1 or 2 years. Thus, it is urgent to put in place the revival of the sector and revitalize this growth engine.