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With a Value of 321 Billion Dirhams: Moroccan Banks Strengthen Financing for the Real Estate Sector Amid Major Projects
Moroccan banks have recorded a notable acceleration in financing the real estate sector during 2025, driven by the momentum associated with national major projects in preparation for hosting international events. The outstanding balance of real estate loans reached approximately 321.5 billion dirhams, marking its highest level in five years, according to the economic situation report issued by the Directorate of Studies and Financial Forecasts.
This growth is primarily attributed to a 3.3% increase in housing loans, following a 1.7% rise the previous year, and a 5.3% increase in real estate development loans after a 5.7% rise in 2024. The banking sector, in general, also experienced a faster pace of loan growth, reaching 8% by the end of December 2025, compared to 4.4% a year earlier. This included both loans directed to the financial sector (+23.2%) and the non-financial sector (+4.7%), encompassing loans for households and non-financial companies.
On the field activity front, the year 2026 began with an 18.8% decline in cement sales during January, contrasted with a 13.8% increase a year earlier. This was due to exceptional rainfall affecting the pace of construction across various delivery categories, including distribution (-24.5%), ready-mix concrete (-11.5%), manufactured products (-14.2%), infrastructure (-13.2%), and construction (-7.2%). However, the mortar category saw an increase of 21.4%.
The evolution in bank loans reflects the rising demand for real estate financing, alongside financial and equipment loans, which enhances the investment capacity of the real estate sector and enables the continuity of major project implementation at the national level, supporting economic activity and preparing the necessary infrastructure to host upcoming international events.
