UAE report: Iraqi real estate market has become more mature to stimulate investment companies

by **rocky** on Mon 11 Feb 2019, 2:10 am

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UAE report: Iraqi real estate market has become more mature to stimulate investment companies

by rocky on Mon 11 Feb 2019, 2:10 am

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UAE report: Iraqi real estate market has become more mature to stimulate investment companies[/size]
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13 minutes ago

Shafaq News / The Iraqi economy is currently enjoying a large number of investment opportunities, which has become an additional incentive for all investors and companies to enter this promising market, especially real estate developers, at a time when Iraq needs to re-develop many services at the level of infrastructure and All health, education and service areas.

The weekly real estate report of Al Mazaya Holding says that real estate developers operating in the GCC and neighboring Iraq have considerable experience and have the resources to work and contribute to the reconstruction of the real estate sector and the development of infrastructure in Iraq, in addition to the companies' Strong financial centers that make it able to accomplish all types and sizes of projects needed by the Iraqi economy at the present time.

Al Mazaya pointed out that the real estate developers in the region have made decisions to seek investment opportunities in the region and the world over the past few years in order to benefit from the opportunities available abroad and to acquire more good market shares produced by the supply and demand forces from Time period. Moreover, these trends were driven by the decline in the economic and economic activity of the economies of the countries of the region as a result of the decline in oil prices and revenues, which in turn affected the pace of urban activity taking into consideration that War recorded on the performance of a large number of real estate developers have people to compete at the external level to implement ambitious projects, and therefore, many real estate developers are enjoying these possibilities and able to provide for all the neighboring, including the Iraqi economy economies, which is the strongest need for these capabilities and exceptional experiences

According to the report, the pace of real estate developers operating in the rapidly growing economies of the region is accelerating towards the Iraqi economy to acquire the largest investment opportunities in all fields, in light of the plundering and stimulation of the Iraqi economy after the instability in the various major cities.

The data indicate that the volume of non-oil trade between Iraq and the UAE reached 11 billion by the end of 2016, while estimated investments in the United Arab Emirates in the amount of 7 billion dollars, mostly concentrated in the real estate sector and the oil sector, in contrast, the trade exchange between the Iraqi economy and Saudi Arabia 23 billion riyals during the last ten years, with the expectation of a rise in these figures in light of the development recorded on the movement of trade and investment for the time being and in the near future.

On the other hand, the statistics showed that the real estate market in Iraq has been facing a major housing crisis for several years accompanied by a large population growth, which exceeded 38 million people, while the real estate market recorded further rises in the real estate price index in major cities, Baghdad, which led to a decline in the percentage of ownership of Iraqi citizens, in addition to the urgent need for water and sanitation projects and infrastructure for the power generation sector and the education sector and projects bridges and roads across the country, where the total value of Reconstruction projects need about $ 88 billion, which has already begun and has been completed hundreds of projects for reconstruction and rehabilitation of the service sector, while waiting for many projects to get the funds pledged by international donors, estimated 30 billion dollars were allocated to support 200 projects to restore The ages.

Al-Mazaya noted that the investment promotion packages being implemented and developed in Iraq, on which the state depends, provide all facilities for companies to work freely and safely aimed at rebuilding an economy free of debt and borrowing from abroad. The period of reconstruction in particular.

Real estate development is one of the most active sectors in the region and one of the most lucrative investment sectors in spite of the recent recession. A large number of developers across the region have diversified real estate portfolios including land, residential, commercial and hospitality developments Entertainment and integrated communities, and its ability to replicate these diverse and successful experiences within the Iraqi real estate market seems logical and applicable at any time.

The Al Mazaya report says that investment and urban conditions are more mature than ever before and are well prepared for successful, medium and long-term real estate investment in new markets.

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