Tuesday, April 14, 2009

Real estate downturn boosts Morocco slum clearance

As demand for luxury homes and tourist facilities falls in the wake of the global financial crisis, Morocco's property firms are making the most of a state-backed scheme to rehouse 4 million slum dwellers in new flats. Several firms including Morocco's biggest real estate developer Addoha have announced a new focus on low-income housing.
The north African country's biggest building materials manufacturer, Lafarge Ciments, says demand for its cement is likely to grow this year thanks to the social housing projects