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Investments in housing sector reached over USD 13Bn in 2007

Casablanca, May 30 - Investments in the housing sector reached some MAD 98.9Bn (USD 13.4Bn) in 2007 against MAD 58.9Bn (USD 8Bn) in 2002, i.e. a 67.9% increase, said an official from the Housing Ministry.

Speaking on behalf of the Housing minister at a roundtable organized, here Friday, by the British Chamber of Commerce on "the Cost of real estate in Morocco: opportunities and limitations," Abderrahmane Chorfi said these investments contributed to the creation of some 839,000 jobs in 2007 against 632,000 in 2002.
He also pointed out that the number of housing units completed in 2007 is estimated at 121,000 units (45,000 in 2002).
By the end of 2007, he said, the housing deficit amounts to one million units, stressing that the ministry aims, as part of its 2002 strategy, to reduce this deficit to approximately 500,000 units at the end of 2012.