Erbil: the ideal platform for high-quality business-to-business opportunities

Erbil represents the center of business and attraction for the entire Iraq, the optimal gateway to doing business not only with the local Iraqian market, but also with the surrounding region.

Economic incentives for foreign investment are also key factors in this growing economy.

In 2006, KNA passed an Investment Law which offers generous incentives to foreign investors, including the right of full property ownership, tax  and customs duty exemptions, profit repatriation and partnership.

The Iraqi government plans to increase the Housing Fund’s capital to $1 billion in 2013, as well as create approximately 6 million housing units over the next five years to attract regional and international real estate investors. In addition, it has exempted its citizens from paying interest on real estate loans.

In 2011, Iraqi investors led the foreign investments in Jordan’s real estate market at $355 million, and purchased $128 million worth of real estate properties in Dubai during the first half of 2012.

In times of significant market growth, clever investors rush to seize the first glimpse of opportunity. IREIF 2019 provides you with the ideal setting to meet fellow professionals, affluent buyers, and private and corporate investors in Iraq’s booming real estate market.

And through this year will be built more than 15 residential and commercial projects in Erbil worth billion of dollars, and also in the present time there are some other projects under construction and work in it.

 

Erbil; a Capital Uniting for the Future
  • The real estate market in Erbil; current trends, key players and opportunities
    • Entry mechanisms and opportunities for foreign investments in Erbil
    • Erbil’s development plans aim at making it the “New Dubai”
    • A foreign investment success storyIREIF Real Estate& Investment Exhibition is the first and only event of its kind to take place in the city of Erbil addressing the real estate and investment and construction sector. The event will shed lights on strong development opportunities for local, regional and international institutions present or planning to enter the Iraqi market. Public and private investment enablers and opportunities will also be a major theme where both officials and executives can share views and reach a common basis of understanding of the sector’s evolution prospects.

    The event will be a key meeting point for leaders, officials, decision-makers, and major investors and contractors from Iraq, the region and the rest of the world to network and explore potential opportunities in the real estate , investment and construction sector of Iraq.

 

 

Market Info
The Kurdistan Region is a Booming Market for Real Estate Investors
Why Erbil?

Erbil: the ideal platform for high-quality business-to-business opportunities

Erbil represents the center of business and attraction for the entire Iraq, the optimal gateway to doing business not only with the local Iraqian market, but also with the surrounding region.

Economic incentives for foreign investment are also key factors in this growing economy.

In 2006, KNA passed an Investment Law which offers generous incentives to foreign investors, including the right of full property ownership, tax  and customs duty exemptions, profit repatriation and partnership.

The Iraqi government plans to increase the Housing Fund’s capital to $1 billion in 2013, as well as create approximately 3 million housing units over the next five years to attract regional and international real estate investors. In addition, it has exempted its citizens from paying interest on real estate loans.

In 2011, Iraqi investors led the foreign investments in Jordan’s real estate market at $355 million, and purchased $128 million worth of real estate properties in Dubai during the first half of 2012.

In times of significant market growth, clever investors rush to seize the first glimpse of opportunity. IREIF 2019 provides you with the ideal setting to meet fellow professionals, affluent buyers, and private and corporate investors in Iraq’s booming real estate market.

  • Housing and property prices increased almost 75 times more than their value 10 years ago
    • Around 150,000 housing units have been built by investors over the past ten years in the Kurdistan Region
    • Since 2006, $25 billion has been invested in Kurdistan; $15 billion of which was assigned to the housing sector
    • KRG has initiated a campaign to build 9,000 low-cost homes that will be available free of interest

 

Who is Already Investing?

According to the Ministry of Municipalities, huge corporations from various countries have allocated large funds for purchasing real estate properties in Kurdistan, including the USA, Turkey, Iran, Canada, Saudi Arabia, Kuwait, the UAE, the UK, France and China.

  1. OF PLOTS BEING DEVELOPED

137

268

79

13

13

LOCATION

Zakko

Erbil

Sulaimaniah

Cham Chamel

Kirkuk

“We are building our share of housing units, but whatever we build from our budget is not enough to meet our housing needs. We are signing agreements with private investors to develop housing in Iraq. A joint venture between the government and the private sector is a must.” 

 

Erbil is the most desirable city for foreign investment

Erbil has enjoyed unprecedented development since 2003 and moved forward with the international community to explore a wide range of economic activity, reserving a lynchpin role for foreign investors, multinational companies, and public private partnerships. Analysis is key to any investment strategy and this all-source compilation of data on Erbil region provides necessary indicators to perform due diligence.

ERBIL, Jan. 11 (AKnews) – Erbil Governorate is the most desired destination for foreign investment in 2011 with over $1 billion USD (1.1 trillion IQD) channeled into the Region Management.

Erbil Governorate received the lion’s share, $1.26 billion USD (1.5 trillion IQD). That is about 57% of the $2.18 billion USD (2.5 trillion IQD) foreign money sloshing about the region according to a survey by the Region’s Investment Board.

The majority of the foreign investment has gone to the housing sector, according to the survey.

Erbil is the hot spot for investment in Iraq since 2003 and is regarded as one of the Middle East’s best growth prospects in 2012. According to statistics released by the Investment Board, the region has attracted some $16.2 billion (19 trillion IQD) in foreign investment over the past five years.

Of this again Erbil Governorate has received the lion’s share, attracting 61% – $9.8 billion USD (11.5 trillion IQD) – across the five years.

Region’s boom in foreign investment has been accredited to its accommodating Investment Law, passed in 2007. The law provides incentives for foreign investors including the possibility of owning land, up to 10 year tax holidays, easy repatriation of profits and removal of tariffs on exports and imports related to the project.

Figures obtained from the Regional Government’s Ministry of Trade last month showed a 30% increase in the number of foreign companies registering in Region in 2011. Up from 331 companies in 2010 to 433 companies this year.