The real estate market in Iraq is experiencing a significant transformation, driven by increased foreign investment and a growing population. With a current market value of $1.11 trillion, the sector presents lucrative opportunities for investors. The Iraqi real estate market is undergoing a construction boom, primarily driven by the residential sector. The market is forecasted to grow at a steady annual rate of 4.43% from 2024 to 2028, reaching a market volume of $1.32 trillion by 2028. This growth is fueled by an increasing population, with 57% under the age of 25 and a driving demand for housing. Iraq's projects market is one of the largest in the MENA region, primarily due to its vast wealth in oil, gas, and chemicals. The total value of schemes planned or underway in Iraq is estimated at just over $400 billion, making it a significant player in the region's project landscape. Iraq has approved new infrastructure and services projects worth around 1,287 billion dinars ($980 million), Demand for construction heavy equipment and machinery is surging at an annual growth rate of 25%. 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.
