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THE MARKET AT A GLANCE
- Iraq’s construction industry recovered in 2019, with the industry’s output expected to have registered a growth of 25% in real terms that year. The growth momentum is expected to continue throughout the forecast period (2019-2023) supported by the government’s plan to redevelop transport infrastructure and houses in the country.
- Infrastructure investments in Iraq mainly focus on water supply projects, wastewater treatment, electricity plants, hospitals, schools construction, housing developments, highways, bridges, and port construction. These projects, planned as part of Iraq’s reconstruction, are estimated to cost $88 billion.
- The total construction project pipeline in Iraq including all mega projects with a value above $25 million stands at $211.6 billion. The pipeline, which includes all projects from pre-planning to execution, is heavily skewed to late-stage projects, with 81.5% of the pipeline value in the pre-execution and execution stages as of September 2019.
Sources: Kurdistan Regional Government, Kurdistan Investors' Union, Global Information
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