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Article: Rabat removes the slums; Rabat has introduced measures to eradicate city slums and accommodate low-income earners in new social housing units.(MOROCCO)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- October 6, 2006
- Author:
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For the past year, real estate headlines in the kingdom have been dominated by eye-catching multi-billion-dollar luxury housing projects, undertaken increasingly by major developers from the Gulf. But behind the headlines lies a broader story touching the very fabric of society in the kingdom.
Real estate is one of the most important sectors of Morocco's economy, contributing an average 5 per cent a year to gross domestic product (GDP) in the last three years and employing 10 per cent of the active urban population. But the kingdom is facing a housing shortage of unprecedented proportions.
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Between 1960 and 2004, the kingdom's ...