Iraq’s three-year budget includes funds for nearly 7,000 projects in housing, commercial and infrastructure projects.

The year 2023 recorded spending of $153 billion sets allocations for new residential cities and revival of hundreds of stalled projects

Iraq Construction Equipment Market size is expected to grow at a CAGR of 7.4% during 2024-2030.

In 2024, the Real Estate market in Iraq is expected to reach a projected value of US$1.11tn.

Among the various segments within this market, Residential Real Estate is anticipated to dominate with a projected market volume of US$0.84tn in the same year.

It is projected that the market will experience a steady annual growth rate of 4.43% from 2024 to 2028 (CAGR 2024-2028), resulting in a market volume of US$1.32tn by 2028.

One of the key drivers of the Iraqi housing market is the country's young and growing population, which is expected to reach 50 million by 2030.

Iraq intends to offer up to 50 projects for the construction of housing complexes in 2024

Iraq broke ground on a $2 billion project to build a residential city outside of Baghdad, starting construction on 30,000 housing units.

The project is part of plan to construct five cities across Iraq. Four more are expected to be awarded soon and another 10 will be announced next year.

The Iraqi government aims to build between 250,000 and 300,000 housing units for poor and middle-class families.

The Iraq government plans to complete $150bn of infrastructure projects by 2025, creating huge new opportunities for international investors, real estate developers and construction firms