NORTH AFRICAN CONSTRUCTION MARKET EXPANDING WITH USD 473 BN WORTH OF ACTIVE PROJECTS
Tuesday, March 7, 2017 — Economic and population growth, regulatory reforms, and urbanization 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 USD 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 urbanization 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 USD 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 the latest technologies for the built environment will be presented to the Moroccan construction community at the first edition of The Big 5 Construct North Africa, kicking off from 25 to 27 April at the Parc Des Expostions de l’Office des Changes in Casablanca.
“Our participation to The Big 5 Construct North Africa in Morocco is an opportunity to present to the visitors how we provide intelligent solutions using the most advanced technologies, service and unique expertise. We want to meet the challenges our customers face by developing new solutions to meet the ever-greater demands in terms of trouble-free application and environmental compatibility.” Sika Maroc’s Africa Marketing Manager, Martine Masson, said.
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 characterized by increasing urbanization and the development of mega-cities, which leads to a rising demand for high-performance construction products,” Ms Masson added.
“Welcoming construction players and buyers from around the globe, 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.” Portfolio Exhibitions Director, Andy Pert, said.
Aiming to become one of the top-20 tourist destination by 2020, Morocco is steadily developing its hospitality sector. Some notable projects include the USD 460 Million Rabat Grand Theater, the Anantara Al Houara Resort, worth USD 300 Million, and the USD 200 Million Morocco Mall. “Investments in the hospitality sector and the announcement of other high-value projects such as the USD 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,” Mr. Pert, pointed out.
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.
To know more about The Big 5 Construct North Africa 2017 (25 - 27 April, Parc Des Expostions de l’Office des Changes, Casablanca), please visit www.thebig5constructnorthafrica.com.