Decline in housing starts dent Moroccan demand

Decline in housing starts dent Moroccan demand
15 July 2014

The first half of 2014 has seen cement sales in Morocco experience a 4.4 per cent decline to 7.435Mt, latest figures released by the country's cement producers' association, APC, show.

Industry analysts expect Morocco to experience a further year of decreasing sales after deliveries to the domestic market were down 6.3 per cent YoY at the end of 2013. According to Attaijari Intermediation, a 4.4 per cent drop in domestic cement sales is forecast by the end of 2014, mainly due to a significant drop in housing starts in the real estate sector. However, the development of exports to central Africa is expected to keep overall sales stable.

In 2013, Lafarge's Moroccan operations saw cement sales fall by 6.1 per cent but the positive contribution of other higher-added value products enabled the company to maintain its sales at MAD5.05bn. Holcim's consolidated revenues declined by 6.3 per cent to MAD3.11bn.

Published under Cement News