The real estate market in Casablanca is growing
Casablanca, one of the most beautiful cities in Africa, continues to grow in the hospitality, retail and real estate sectors.
The real estate market of Casablanca showed a good performance in 2018. Announcing new developments to be built in the region attracted the attention of different investors. Oxford Economics estimates that Morocco’s real GDP will increase by 3.3% in 2019 due to the expansion of the industry sector, increased tourism and higher capital expenditure. According to many experts, the retail and real estate sector will remain active in Casablanca in 2019.
Casablanca continued to remain active in the hotel sector. The hotel industry has accelerated with the introduction of international new hotel brands in the city. “The government is focused on improving tourism sites and the infrastructure of the city, and several rehabilitation projects are currently underway including the cable stayed bridge of Sidi Maarouf, the Grand Theatre and redevelopment of coastal sites.
Casablanca’s hospitality sector will continue to witness positive sentiment with new international developments entering the market,” said Craig Plumb, Head of Research, JLL MENA, added.
In Casablanca, rents remained generally stable. The success of commercial real estate investments in the past city increased confidence in the region. With the renewal of infrastructure, Casablanca’s industrial sector continues to attract investors’ attention due to its long-established road network, port and air infrastructure.
Sevdenur Demir / [email protected]