Erbil launches 4th real estate investment expo
ERBIL (Kurdistan 24) – Local investment authorities on Tuesday launched the 4th real estate expo in the Kurdistan Region’s capital Erbil, as the Kurdish region braces for more investment in the sector.
250 companies from 15 different countries, including China, Germany, and Italy, are taking part in the expo, where the participating companies showcase their products.
Companies from regional countries are also taking part in the event.
More than 15 construction companies are also participating in the annual event along with tens of real estate companies, mostly local. Local officials as well as diplomats attended the inauguration ceremony at Erbil International Fairgrounds.
The capital, which has witnessed a significant development project in the past years, is bracing for more local and foreign investments, the chief of investment said in his speech.
The Region has been able to self-sufficiently produce vital construction materials, such as cement and steel, for housing projects, Mohammad Shukri, the head of the Kurdistan Regional Government (KRG) Board of Investment, said, hailing the cabinet’s continued efforts to facilitate investment.
Following the collapse of the former Ba'thist regime in 2003, the Kurdistan Region, particularly the capital Erbil, witnessed a boom in investment in real estate projects thanks to its relative security situation.
The business-friendly investment laws of the Region are often cited as a crucial factor in drawing foreign direct investment to the Kurdish region.
The total investment that the Region has witnessed so far is $66 billion, according to the official tally.
Strengthening business ties with regional and international countries has been a major theme of the current Kurdistan Regional Government (KRG) cabinet, the premier has said on many occasions.
Additional reporting by Kurdistan 24 reporter Azar Farooq