Morocco’s Fertilizer Industry Receives $3 bln Investment Boost

Heavy machinery is seen at a phosphate mine at Boucraa factory of the National Moroccan phosphate company (OCP) situated in the southern provinces, 100 km southwest of the town of Laayoune February 18, 2016. REUTERS/Youssef Boudlal
Heavy machinery is seen at a phosphate mine at Boucraa factory of the National Moroccan phosphate company (OCP) situated in the southern provinces, 100 km southwest of the town of Laayoune February 18, 2016. REUTERS/Youssef Boudlal
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Morocco’s Fertilizer Industry Receives $3 bln Investment Boost

Heavy machinery is seen at a phosphate mine at Boucraa factory of the National Moroccan phosphate company (OCP) situated in the southern provinces, 100 km southwest of the town of Laayoune February 18, 2016. REUTERS/Youssef Boudlal
Heavy machinery is seen at a phosphate mine at Boucraa factory of the National Moroccan phosphate company (OCP) situated in the southern provinces, 100 km southwest of the town of Laayoune February 18, 2016. REUTERS/Youssef Boudlal

Amin Qaph, director of the Fertilizer Industrial Complex in Jorf Lasfar (south of Casablanca) announced on Friday of officially operating the fourth production unit this upcoming January.

He said that the new factory is the fourth of its kind established by Morocco since 2014, with a production capacity of about one million tons per plant.

During the media tour of the facilities, Qaph added that the four factories will increase the total production capacity of Morocco to 12 million tons.

"During the second phase, we plan to build six new plants to raise our total production capacity to 18 million tons in 2025," he added.

He pointed out to the investment plan exceeding $3 billion.

The fertilizer industrial square (Jorf Lasfar) is located on an area of ​​1,800 hectares, which later on can see further expansion.

It is supplied with phosphates through a pipeline extending from Khouribga mines in the center of the country, some 187 kilometers away.

The complex takes advantage of the geographical slope of the Jorf Lasfar site compared to the Khouribga mines site.

"Prior to 2014, we used to transport phosphates through trains," says Qaph.

 “The operation was very expensive. But with these new industrial units, using trains is not efficient due to the new size of production.”

“Consequentially, we invested in a phosphate transport pipe.”

The large industrial complex is located 2 km from the port of Jorf Lasfar. It is linked to the export berths of the port through rubber bands for the transport of fertilizers.

As Morocco moves to raise its production capacity to 18 million tons, its consumption needs are limited to 500,000 tons—an equation which eventually boosts the kingdom's export capacity, Qaph explained.

"We can easily adapt to all demands, both in size and quality, as we can now produce over 40 kinds of fertilizers," he said.

The first unit within the new generation of plants, which started operating in 2015, was tasked with solely supplying African markets, which are characterized by strong growth in demand for fertilizers.

Qaph said that the Moroccan fertilizer industry has mapped out demand in African partner countries and will attend it wherever it’s found.

"We have launched a plan to map fertility in African partner countries, as we did in Morocco," he said.

He explained that the map of fertility has covered all Moroccan soil and can be accessed through an electronic database of the OCP Group.

One of the leading exporters of phosphate mining in Morocco, the OCP Group is found mainly in 4 mining sites and two chemical complexes.

"Any land slot on Morocco’s drafted map includes detailed data which can be used to match the type of agriculture the investor intends to use,” Qaph said.



Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
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Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)

Saudi Arabia's real estate market continues to attract investment despite geopolitical challenges weighing on economic activity worldwide, supported by new housing developments and efforts to expand residential supply.

The Ministry of Municipalities and Housing announced that more than 15,000 residential land plots had been made available through the Sakani platform across the Kingdom between the beginning of 2026 and the end of October, alongside additional projects launched by private-sector developers.

The developments underscore the sector's continued momentum and its importance to the Saudi economy.

Government initiatives and private-sector projects aim to expand housing supply and meet growing demand, reinforcing real estate's position as a key driver of economic growth and diversification.

Strong domestic demand and ongoing urban development projects continue to underpin the market's appeal, attracting investment from both Saudi and international investors.

Against a backdrop of geopolitical uncertainty and war-related disruptions to trade, supply chains, financing costs and construction expenses, the real estate sector has gained importance as an industry driven largely by domestic demand and capable of sustaining economic activity.

Private-Sector Investment

Despite mounting global economic volatility and geopolitical tensions, Saudi Arabia's real estate market continues to attract international investment, supported by clear economic policies, expanding development opportunities and strong housing demand.

Real estate developer Arada recently announced its entry into the Saudi market through a partnership with local company XTOPIA, backed by a SAR 50 billion ($13.3 billion) portfolio of land and development opportunities.

The partnership's first project is a SAR 14 billion residential development in Riyadh's Al Rimal district.

Riyadh Region Municipality, the Ministry of Municipalities and Housing, and the National Center for Privatization & PPP also recently announced the launch of the expression of interest, prequalification and proposal submission stages for a joint land investment project.

The initiative involves developing a municipal land plot in northern Riyadh through a 50-year partnership with the private sector, marking the municipality's first project under the joint investment model.

Real estate specialists described the initiative as an important step toward enabling private investors to develop property assets into sustainable projects with significant economic value.

They said the extended investment period would encourage developers to improve construction quality and services, strengthen project feasibility, diversify real estate offerings and increase supply in one of the capital's most expensive neighborhoods.

Balancing the Real Estate Market

The importance of releasing more residential land lies in achieving greater balance in the property market, a government objective outlined by Crown Prince and Prime Minister Mohammed bin Salman.

The strategy seeks to increase housing supply by making more land available, broadening the options accessible to Saudi citizens and enabling more households to move from searching for a home to building and owning one.

Increasing the availability of residential land, particularly in cities and governorates experiencing rising demand, could ease pressure on land prices over the medium term, provided that plot locations and sizes correspond to actual market needs.

The release of additional land also creates opportunities for real estate developers, contractors, engineering firms and building materials suppliers to benefit from anticipated demand for construction projects.

As a result, businesses across the real estate and construction supply chain could see stronger activity despite the impact of the geopolitical crisis on other economic sectors in the region.

The initiative also expands housing choices, supports efforts to increase homeownership rates and improve quality of life, and encourages urban development beyond major metropolitan centers.

Lowering Prices

Real estate developer Ahmed Omar Basoudan believes the main challenge facing Saudi Arabia's property market in the coming period will not simply be increasing the number of land plots and housing units available.

Rather, he said, the priority must be ensuring that homes reach buyers at prices they can afford, while providing adequate infrastructure and services and keeping development and construction costs under control.

Speaking to Asharq Al-Awsat, Basoudan explained that genuine balance in the real estate market depends on the availability of housing that meets buyers' needs in terms of price, location and quality, rather than simply increasing overall supply.

He said the release of more than 15,000 residential land plots during the first 10 months of the year, together with recently announced private-sector projects, reflected the government's continued commitment to expanding housing supply and providing more residential options.

Basoudan stressed that the latest real estate developments represent an important step toward addressing one of the market's most pressing challenges: achieving a sustainable balance between supply and demand, particularly amid the Kingdom's population growth and continued urban expansion.


Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
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Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)

Saudi stocks closed higher on Monday, recovering some of the losses sustained in the previous session as heavyweight shares strengthened and the banking sector advanced.

The benchmark Tadawul All Share Index (TASI) rose 0.90% to close at 10,106 points, gaining 90 points. Total trading value reached approximately SAR 3.5 billion ($933 million).

The index had fallen 0.8% on Sunday amid selling pressure on heavyweight stocks.

Anaam International Holding Group, Fitaihi Holding Group and Raoom were among the session's top gainers, rising between 7% and 9% to close at SAR 11.93, SAR 2.11 and SAR 72.30, respectively.

On the losing side, Almunajem Foods led the declines, shedding 9.20% to SAR 49.94, followed by Saudi Paper Manufacturing Co., which fell 6.18% to SAR 48.88, and Alamar Foods, which dropped 4.63% to SAR 44.06.

At the sector level, banks led the gains, advancing 1.60%, supported by a 2.06% rise in Bank AlJazira shares, which closed at SAR 10.89.


Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
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Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)

Tesla will have to refund Cybertruck deposits for many customers as orders far exceed production capacity, CEO Elon Musk said, following last week's announcement that the electric vehicle maker is winding down the pickup truck's production at its Texas factory.

"We will try ‌to make ‌as many as ‌possible ⁠before shutting down the ⁠line in about 8 months, but will have to return deposits for a lot of people," the billionaire said in a post on X on Monday.

The comments ⁠come after Musk said ‌Tesla would ‌add an extra production shift to fulfill outstanding ‌Cybertruck orders before dismantling the production ‌line next year to expand output of its Cybercab robotaxi.

The production winddown is slated for mid-2027, Musk announced on ‌Friday, with the resources being redirected to the Cybercab, a vehicle ⁠central ⁠to the automaker's autonomous-driving ambitions.

Tesla began delivering the Cybertruck in late 2023, but demand has fallen far short of Musk's expectations. US sales fell 48% to 20,237 units last year, according to Kelley Blue Book, well below Musk's earlier projection that annual Cybertruck sales could reach 250,000 vehicles.