According to Al-Khaleej newspaper (June 9, 2005), the Iraqi Construction and Housing Minister, Jasim Muhammad Jaa'far, announced that the best way to resolve the housing shortage problem in Iraq is to open this sector for foreign investments. The minister estimates the current housing shortage in Iraq at 3 million residential units, which implies a huge gap between what's required to do and what can be done.
The minister added that by allowing foreign construction companies and international banks to enter Iraq, the country would be able to build 500,000 new apartments through the next five years.
