The Iraqi real estate market is expected to offer many opportunities to construction firms, including from the Gulf region. According to Al-Hayat newspaper, the Iraqi government-funded Housing Fund will soon start giving loans to Iraqis to finance building of more than 2 million residential units in Iraq, which is currently facing a sharp housing shortage.
The Fund has recently received ID 100 billion ($70 million) out of determined ID 300 billion ($200 million). The U.S. Treasury and USAID had previously agreed to support the Iraqi Government's housing finance program with technical assistance to develop a policy framework that attracts private sector and multilateral sources of mortgage finance. USAID and US Treasury will provide technical assistance for the start-up operations of this Fund.
