Morocco African leader in real estate
Morocco has been a champion when it comes to real estate investment financing. Now that it is easy to finance any project, most families are able to qualify for building their first home.
Nearly 9 in 10 Moroccans can now own their homes. This is certainly what the results of a study of the CFAO Group on the middle classes in Africa confirms. In comparison with other African countries, Morocco seems to be the champion of real estate property. Only 32% of Ivorians reported owning their home, against 31% in Nigeria and Cameroon, and 31% in Kenya. The survey targeted a sample of over 4,000 African households, in five mainland motors countries chosen for their geographical, economic, social and cultural influence, namely Morocco, Cameroon, Côte d’Ivoire, Nigeria and Kenya.
Morocco is going to invest in real estate projects in the outskirts of the Senegalese capital, intended for employees of the port. They have two types of economic villas, built on 150 m² of area.
“We are proud to support the policy of the Republic of Senegal in the development of the supply of social housing and we welcome the confidence in our group there,” said Mohamed Hassan Bensalah, President of Holmarcom group quoted on the website of the group.
Remember, Holmarcom (through its subsidiary Peacock Investments) had already obtained approval in July 2013 by the Senegalese government for the construction of 5000 housing. The first project launched by Peacock Investments involves the construction of 2850 units over 72 hectares in Diamniadio, south of Dakar. The total investment was 630 million dirhams (60 million euros). To date, Peacock Investments has built 260 villas, serviced 450 plots of land and 150 houses delivered.