The layout of housing in Kurdistan has transformed the face of major cities across the Region. Rapid changes since 2003, have witnessed copious architectural structures and large housing projects that have reshaped the landscape of its cities.
Certain aspects of Kurdistan’s Development has fuelled the rise in the demand of housing, a booming economy, rates in economic growth in the region, relative safety in Kurdistan causing many citizens from surrounding areas of Kurdistan to move into the region. A rise in job opportunities from the creation of the housing projects along with there ability to afford housing. The amount of international and local companies hiring from the local workforce has been on the rise.
One of the drivers of this economic growth in Kurdistan has been the construction boom that has been sweeping Kurdistan since the Liberation of Iraq in 2003. This growth can be expected to expand to the central and southern sectors of Iraq once the security situation there becomes stable.
Facilitation of travel has also helped fuel economic growth in Kurdistan and the road system has been widened and improved, new highways have been built and Erbil International Airport will have a brand new terminal boasting one of the longest runways in the world.
78 Housing Projects in the region amounting to around $5.8 Billion, which is 42.9% of investment capital and 44.51% of investment land distributed thus far making it the largest capital & land investment in any one sector in the region.
Healthy investment law has enabled this sector to flourish since 2003, the demand for such housing projects is phenomenal, these houses provide 24 hour electricity, complete gas and irrigation systems along with 24 hour security which is vital for companies operating in Kurdistan making these projects both residentially and commercially attractive.
With further investment, new projects can be implemented that provide higher standards of housing, successful developments such as American Village saw the cooperation of local companies with foreign investors, this collaboration creates a healthy and stable environment of investment for both the local and foreign investors.