Iraq is witnessing a rise in recovery, reconstruction and development needs across all sectors of its economy from basic infrastructure to housing, hotels, schools, and public building rehabilitation.
The Iraqi government has allocated US$15 billion for infrastructure projects in its 2012 budget. The country’s reconstruction initiatives have so far required tens of billions of dollars in investments with USAID estimating a total expenditure of US$ 150 billion. The large number of projects already planned or underway will require huge amounts of building materials, design capacity and construction expertise, creating the right environment for investment opportunities in the real estate development, construction and building materials industries.
In parallel with major infrastructure renewal underway, Iraq’s new housing projects will be a key driver of the country’s construction boom with current projects valued at US$ 25 billion and an estimated US$ 100 billion needed to satisfy demand.
Market Insights
