Although the Gulf has seen the majority of construction activity in the MENA area of late, Morocco too is beginning to emerge as a favorite for a variety of European and Gulf investors. The Investment Commission, chaired by Prime Minister Driss Jettou, announced on June 13 the setting-up of three major cement factories at a total cost of Dh8.9 billion ($1.1 billion). These significant investments in the cement industry are designed to meet the increasing demand in the construction and real estate sector. Although the cement industry still is dominated by foreign capital, two out of the three factories will be Moroccan-owned. The first one is initiated by the Ynna group and will be built in the Settat region. The second one, to be established by the Addoha group, will have two units, one in the region of Beni Mellal and the other one also in Settat. The Ynna group
