Erbil hosts construction and housing conference

ERBIL — Today, a significant conference on construction and housing was held in Erbil, drawing a substantial number of investors and real estate office owners. Participants shared their ideas and projects related to the housing and construction industry.

Speaking to 964media about the challenges in the Kurdistan Region’s sector, Salahaddin Fakherdin, the Deputy Head of the Kurdistan Engineers Union, said, “There are many projects in the region that have faced obstacles, leading to a decrease in demand for these projects. This decrease in demand is the primary reason for the halt in issuing permits for projects by the investment authorities.”

He added, “Citizens would not be adversely affected as there are numerous projects and that the cost of land and housing varies from city to city. Erbil, being the capital, consistently sees high land prices.”

Fakherdin also noted, “The majority of the demand for residential projects in the Kurdistan Region comes from citizens outside the region.” He emphasized the need for greater attention to design and quality in the execution of residential projects, reflecting the views of the deputy head of the Kurdistan Engineers Union.

Omar Mahmoud Faqi, a real estate owner based in Erbil, shared his predictions with 964media regarding the future of the housing market in the Kurdistan Region.

Faqi outlined three key factors that could rejuvenate the Kurdistan Region’s real estate market and bring about positive changes: “The strengthening of ties between the Kurdistan Region and Baghdad, the restoration of trust between citizens and public servants towards the regional government, and the government’s assurance to businesspeople and investors are pivotal.”

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