North Africa construction growth: $473 billion in active projects
In Morocco, the output value of the construction industry will raise at a compound annual rate (CAGR) of 4.07% over the next four years, the Moroccan Investment Development Agency forecasts.
Economic and population growth, regulatory reforms and urbanisation are boosting North Africa’s construction industry. According to BNC’s ‘North Africa Construction Market Report 2017’ commissioned by The Big 5 Construct North Africa in Morocco, there is approximately $473 billion worth of active projects in North Africa, propelling and nurturing the lucrative construction market.
In Morocco, the output value of the construction industry will raise at a compound annual rate (CAGR) of 4.07% over the next four years, the Moroccan Investment Development Agency forecasts. As population and urbanisation rates climb higher, there is a growing demand for infrastructure, residential, commercial, and healthcare facilities in North Africa. Not surprisingly, the urban construction and utilities sectors constitute approximately 63% of all project investments in the region, with a combined estimated value of nearly $300 billion.
Beyond favorable demand drivers, shifts in technology will be key in influencing growth in the region, BNC reports. Thousands of innovative products and technologies for the built environment will be presented to the Moroccan construction community at the first edition of The Big 5 Construct North Africa, between 25th to 27th April at the Parc Des Expostions de l’Office des Changes in Casablanca.
Exhibiting at The Big 5 Construct North Africa 2017, Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector. “We pursue a growth strategy with a focus on the accelerated expansion in African markets characterised by increasing urbanisation and the development of mega-cities, which leads to a rising demand for high-performance construction products,” Sika Maroc’s Africa Marketing Manager, Martine Masson, said.
“The Big 5 Construct North Africa in Morocco will facilitate future regional and global distribution opportunities, positively supporting the local construction industry and Moroccan exports.”
Aiming to become one of the top-20 tourist destinations by 2020, Morocco is steadily developing its hospitality sector. Some notable projects include the $460 million Rabat Grand Theater, the $300 million Anantara Al Houara Resort and the $200 million Morocco Mall.
“Investments in the hospitality sector and the announcement of other high-value projects such as the $10 billion worth Industrial Park in Morocco, indicate a healthy pipeline of project developments in the region, many of which are backed by bilateral and multilateral lenders,” pointed out Portfolio Exhibitions Director, Andy Pert.
During the show, architects, engineers, project managers, contractors and interior designers will be able to attend for free over 10 CPD certified workshops addressing some of the most compelling challenges faced by the Moroccan construction industry. According to Najib Bendahou, Managing Director at HSE Partners, who will be delivering a presentation about Safety in Construction on April 26, “The Big 5 Construct North Africa in Morocco is an excellent opportunity to raise awareness about safety issues within the industry.”
Organised by dmg events Middle East, Asia and Africa, the exhibition is part of the largest, most influential and renowned portfolio of construction industry events spanning the Middle East, India, South East Asia and Africa: The Big 5. In 2016, it connected over 35,600 exhibitors, 195,500 visitors, 1000 speakers and 20,000 conference and summit attendees.
