Projects awarded by Iraq over the past year to build new cities will supply nearly one million houses and help tackle a post-war residential crisis, Iraq’s Prime Minister Mohammed Al-Sudani has said.

Opening an international fair in Baghdad on Saturday, Sudani said the OPEC producer has managed to attract nearly $60 billion over the past year in the form of foreign direct investment (FDI) into housing and other sectors.

“Iraq is on the verge of the biggest housing construction process in its history...several residential projects have been launched and more will be started soon...these projects will add nearly one million houses,” Sudani said.

In 2024, Iraq awarded five large projects to build new cities in Baghdad and other areas. The largest city is Ali Al-Wardi, which comprises around 120,000 units and will accommodate at least 700,000 people.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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