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The skyline of the city is shown August 5, 2002 in Baghdad, Iraq. The nation celebrated the 14th anniversary of the end of the 1980-88 Iraq-Iran War August 8, 2002 with a wreath laying ceremony and a military parade. Iraqi President Saddam Hussein used the occasion to announce that he is not afraid of U.S. military threats. (Photo by Salah Malkawi/Getty Images) Image used for illustrative purpose
Iraq has awarded projects involving the construction of nearly 1.5 million houses and the number is expected to reach five million units by 2030, an official has said.
More developers are expected to enter the Iraqi market following the improvement of investment laws in the housing sector, said Hassam Al-Khafaji, chairman of parliament’s investment and development committee.
“The government has recently awarded several projects for the construction of nearly 1.5 million houses,” he told the official daily Alsabah on Monday.
“We expect more projects to be awarded in the next period given the high demand for housing in Iraq…I believe that until 2030, the projects will include five million units.”
Khafaji noted that a large part of those projects involved the construction of cities near the capital Baghdad, the Southern Basra province and other parts of Iraq.
(Writing by Nadim Kawach; Additional writing by Majda Muhsen; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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