Property investment opportunities in Kurdistan

June 6, 2008 by OPPE News

Kurdistan’s real estate industry is now worth $10 billion and growing, according to politicians. The Prime Minister of the Kurdistan Regional Government of Iraq told Gulf News his country’s property development sector was experiencing a property investment boom.

Around 40,000 homes are currently under construction in the region, which is spread through Iraq and Turkey but holds international recognition as a federal autonomy. Prime Minister Nechirvan Barzani told the site:

“Everything is being invested by Kurdistan and last year we had a new investment group that encourages property investors to invest in our region.”

This week Damac properties announced it was to be involved in a development in the Tarin Hills at Erbil, featuring residential and commercial buildings. Calling the scheme a “unique” property investment opportunity, Damac chairman Hussain Sajwani said:

“We are very confident that Erbil’s unique topography has great potential to become an attractive destination for both high-end and mass tourism.

“We are happy to contribute to the development of a new Kurdistan and believe that this investment will contribute towards the growth phase of the region and a landmark in Iraq’s development.”