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Iraq and Saudi Arabia are driving the growth of the project market for the Gulf region
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[rtl]The English magazine "Med" reported today, Saturday, that the increase in projects in the Gulf region last May and this June was driven by the Iraqi and Saudi project markets, whose value grew by 1.5 percent, or $28 billion for Saudi Arabia, by 5.6 percent. Or 20 billion for Iraq.[/rtl]
[rtl]Market gains[/rtl]
[rtl]The magazine indicated that growth in Iraq, the increase in the market value of projects was driven by the National Investment Authority’s revival of the Al-Rasheed Residential City project in Baghdad with a value of 10 billion dollars, and 7 other residential projects with a total value of 12.5 billion dollars were announced, the largest of which was planned for 5.5 billion dollars. Billions and 4 billion in Najaf and Wasit governorates, respectively.[/rtl]
[rtl]In Saudi Arabia, it was driven by the revival of the “Mecca Metro” project, which is worth $17 billion. The French engineering company "Systra" is updating feasibility studies for the project.[/rtl]
[rtl]It is noteworthy that Iraq is suffering from a stifling housing crisis due to the increase in its population compared to the number of residential complexes, in addition to the inability of citizens with limited income to build their own housing unit due to the high cost of land and construction materials.[/rtl]
[rtl]The Ministry of Construction and Housing estimates that Iraq needs more than three million housing units to fill the housing crisis in the country.[/rtl]
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Added 06/22/2024 - 1:37 PM
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Economy News - follow up
[rtl]The English magazine "Med" reported today, Saturday, that the increase in projects in the Gulf region last May and this June was driven by the Iraqi and Saudi project markets, whose value grew by 1.5 percent, or $28 billion for Saudi Arabia, by 5.6 percent. Or 20 billion for Iraq.[/rtl]
[rtl]Market gains[/rtl]
[rtl]The magazine indicated that growth in Iraq, the increase in the market value of projects was driven by the National Investment Authority’s revival of the Al-Rasheed Residential City project in Baghdad with a value of 10 billion dollars, and 7 other residential projects with a total value of 12.5 billion dollars were announced, the largest of which was planned for 5.5 billion dollars. Billions and 4 billion in Najaf and Wasit governorates, respectively.[/rtl]
[rtl]In Saudi Arabia, it was driven by the revival of the “Mecca Metro” project, which is worth $17 billion. The French engineering company "Systra" is updating feasibility studies for the project.[/rtl]
[rtl]It is noteworthy that Iraq is suffering from a stifling housing crisis due to the increase in its population compared to the number of residential complexes, in addition to the inability of citizens with limited income to build their own housing unit due to the high cost of land and construction materials.[/rtl]
[rtl]The Ministry of Construction and Housing estimates that Iraq needs more than three million housing units to fill the housing crisis in the country.[/rtl]
70 views
Added 06/22/2024 - 1:37 PM
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