Iraq will next month invite foreign firms to submit bids for the planned construction of a $6 billion port south of Basra, which together with a new rail system will create a regional transport conduit to rival the Suez Canal, officials say.
Iraq is also seeking investors to build 8,000 km (4,970 miles( of new rail line, including a $3 billion railway network around Baghdad. (more…)
“House building across the country creates far reaching opportunities for local and internal firms in Iraq”
Iraq Construction
From the Eye On Iraq: The Mayor of Baghdad, Sabir al-Issawi, has revealed a five-year plan to build 300,000 housing units in the city. According to al-Issawi, the country is talking with a wide variety of developers from across the world who are interested in investing in the country’s real estate market. The Iraqi government has identified the need for more than 1.5 million residential units countrywide.
A New Zealand construction firm, Atconz Real Estate Development, said Iraq is one of the most exciting emerging markets at present, and is about to start work on a $100 million project to build 1,565 residential units in a suburb of Irbil, the capital of the Kurdish region.