INDUSTRIES
AND MARKETS
The Fast Disappearing Affordable Housing
in Rabat: Land Shortages, Massive Projects and Soaring Real
Estate Prices
Real estate prices in the Moroccan capital Rabat have reached
unprecedented levels. With the square meter priced at MAD
14,000 in the upper-scale neighborhoods of Haut Agdal and
Haut Hassan, the equivalent of US$150 per square foot, prices
have also skyrocketed in middle class neighborhoods as well,
such as in the Ocean zone, Hassan and Diour Jamaa where
the square meter goes for MAD 7,000. In other upper-scale
neighborhoods like Hay Ryad and Bas Agbal, prices fluctuate
between MAD 10,000 and MAD 12,000.
[read
here]
INDUSTRIES AND MARKETS
Asian Construction and Engineering Companies’
Foray into Libya
Libya
is making sure that there is diversification in suppliers
and contractors when it comes to lucrative construction and
engineering projects. Asian companies seem to have gotten
the message. Scores of sizeable engineering and construction
firms from various Asian countries have been working hard
to get hired by the Libyans. This is because this year alone
up to US$8 billion could be spent on several infrastructure
projects, and already a good chunk of that is ready to be
grabbed by companies from Asia.
[read
here]
CORPORATE
AFFAIRS
Orascom’s Impressive Results in North Africa
e
The
Egyptian industrial group Orascom’s mobile phone unit is on
the roll. Active in Egypt, Algeria and Tunisia in North Africa,
as well as in Iraq, Pakistan, Bangladesh and in some specific
African markets, the companies is showing that good risk taking,
the right strategy and intelligent management can generate
good profits even from small and untapped markets.
[read
here]
DOMESTIC
AFFAIRS
As Deadline for Insurgents to Surrender Expires,
Algerian Military Goes on the Offensive
Algeria’s
defense forces have already launched a major offensive aimed
at eliminating the various groups of insurgents operating
across the country. The offensive started days before the
deadline for insurgents to surrender. There are an unknown
number of insurgents who refuse to adhere to the country’s
reconciliation pact. Forgiveness was included in the Charter
for Peace and Reconciliation, which was enacted as law following
a popular referendum. The text gives insurgents until August
31, 2006 to surrender. Past that deadline, the military will
intervene to eliminate those who have not given up resistance.
However, the military machine is already on the move.
[read
here]
ECONOMY
Debt Pre-Payment Brings Algeria’s Remaining
Foreign Debt to Under 4% of GDP or 10% of 2006 Exports
Italy
was the latest country to endorse Algeria’s request to pre-pay
its debt. Italy will therefore receive US$1.7 billion earlier
than scheduled. With Italy on its list, Algeria has reached
similar agreements with 16 nations, with only one country
remaining, Germany. Talks are underway with Germany to pre-pay
US$763 million and a final deal is set to be announced at
the end of this month or early September.
[read
here]
INDUSTRIES
AND MARKETS
The
Organized Distribution Sector in Tunisia: Overview
The organized distribution sector in Tunisia has expanded
over the past five years to include the introduction of three
new foreign labels, Carrefour, Champion and Géant, competing
for a market that has led to shifting consumer behavior. Among
the most noticeable evolutions is the ongoing emergence of
the large supermarkets, call here “hypermarchés.”
[read
here]
INDUSTRIES AND MARKETS
With Tough Foreign Competition, Morocco’s Drinks
Labels Face Tough Times
Fruit
juice consumption in Morocco is low. It is estimated to amount
to 1 liter per year per capita, compared to Tunisia’s 5.5
liters at the low end, and Germany’s 40 liters at the end.
This phenomenon is explained by the fact that the fruit juice
culture has not penetrated into the Moroccan consumer society
yet, despite a significant citrus fruit industry. Part of
the explanation is also the low disposable income in the country,
which requires consumers to focus on essentials and primary
needs.
[read
here]
