Press release
Iraq in the Construction Market Key Trends and Opportunities to 2021
During 20142015, the Iraqi construction industry registered a weak performance as collapse in oil prices led to a depressed economic environment. Additionally, the rise of Islamic State in Iraq and Syria (ISIS) since mid-2014 hampered the investor confidence which in turn reduced investments in construction projects.
The industry, however, gained traction in 2016, supported by government efforts to revamp economic growth through the development of infrastructure particularly in regions liberated from ISIS.
The governments aim to diversify the economy, coupled with efforts to reconstruct damaged transport and residential infrastructure in war-affected areas, is expected to support the industrys growth, with construction output in real terms expected to post a compound annual growth rate (CAGR) of 3.68% from 2017 to 2021.
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Summary
Timetrics Construction in Iraq Key Trends and Opportunities to 2021 report provides detailed market analysis, information and insights into the Iraqi construction industry, including:
The Iraqi construction industry's growth prospects by market, project type and construction activity
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Iraqi construction industry
Profiles of the leading operators in the Iraqi construction industry
Scope
This report provides a comprehensive analysis of the construction industry in Iraq. It provides:
Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Iraq using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Detailed profiles of the leading construction companies in Iraq
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Reasons To Buy
Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.
Assess market growth potential at a micro-level with over 600 time-series data forecasts.
Understand the latest industry and market trends.
Formulate and validate strategy using Timetric's critical and actionable insight.
Assess business risks, including cost, regulatory and competitive pressures.
Evaluate competitive risk and success factors.
Key Highlights
In order to redevelop infrastructure damaged by ISIS, the government is seeking the help of foreign investors. In March 2017, the UK government granted loans worth IQD14.2 trillion (US$12.0 billion) to develop transport, energy, water and hospital infrastructure projects in the country by 2026.
The governments effort to address the countrys housing shortage is expected to support the expansion of the residential construction market over the forecast period. Under the national housing program, the government is developing Bismayah, a new residential city project with a total investment of IQD11.7 trillion (US$10.0 billion). Being developed on a 1,830.0ha area, the project is expected to be completed in 2019. According to Timetric, the residential construction market is expected to post a nominal forecast-period CAGR of 4.93%, as compared with -1.09% registered during the review period.
Financial assistance from international organizations has been vital to Iraqs economy, following disruptions caused by ISIS. In April 2016, the International Finance Corporation, a subsidiary of the World Bank, announced plans to provide IQD442.5 billion (US$375.0 million) to finance energy infrastructure projects.
In December 2016, the Kurdistan government signed a contract with the UK-based water engineering company Biwater to develop water treatment facilities in the region. With a total investment of IQD1.4 trillion (US$1.2 billion), the project includes the construction of a new water treatment plant with a capacity to provide 600,000m3 of water in Erbil.
To serve Shia pilgrims and tourists visiting Najaf and Karbala, in January 2016 the Ministry of Transport initiated the construction of the Imam Hussain International Airport in Karbala. In July 2016, the Ministry of Transport announced plans to develop the second phase of the new airport with an estimated investment of IQD531.0 billion (US$450.0 million).
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