Iraq needs $100bn to build residential property for growing population
The mayor of the Iraqi capital has said that the country needs $100bn in investment to build one million new homes in Baghdad and meet a shortfall in residential property for its growing population, Reuters has reported. Around 80 per cent of the total figure would come from investors and 20 per cent from the government, Saber al-Issawi said. Baghdad has earmarked $1.5bn for residential and infrastructure spending in 2011 but this figure has yet to be approved by the government and could be revised lower, he said.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.