List of all articles filed under “kurdistan-real-estate” category.
Kurdistan Top Stories
JW Marriott Partners with Falcon Group to Manage Hotels in Kurdistan Region, Iraq
When Marriott International decided to enter the Iraqi hotel market, it partnered with Falcon Group, one of the largest business firms operating in the autonomous region of Kurdistan and throughout Iraq.
Slated for completion in 2017, the Empire World development is the largest development in Iraq and represents a $2.3 billion investment in the future of the high-economic growth autonomous Kurdistan region in northern Iraq.
Empire World’s Marriott Hotel will be a unique hotel catering for needs of all visitors of Erbil, including business travelers. Peshraw Majid Agha has a positive outlook for the real estate in Erbil, which is now one of the most important cities in Iraq for businesses. The prices in Erbil are increasing and investments are flowing into the region at a substantial rate. Peshraw Majid Agha also discusses the other divisions of Falcon Group: Falcon Oil & Gas and Falcon Security.
Ahmed Rikany, Chairman of Rekan Group and President of Kurdistan Investors Union talks about the real estate bubble in Iraqi Kurdistan and Rekan Group.
The international and local investments into the Kurdistan Region have affected it positively though the lack of credit system in Kurdistan still hinders larger, long-term investments. On the other hand, the cash-based projects are less riskier than projects financed through bank loans like in the US, Europe or UAE. Falcon Group, one of the leading companies in Iraqi Kurdistan, earns money from Iraq and invests it back in Iraq; its primary effort is to rebuild Iraq and its different sectors of economy.
However, we see that there is a need for 350,000-500,000 houses while there are currently only 120,000. Moreover, the number of residents is increasing so the demand for houses is there.
Rashid Hoshiar, CEO of Address Kurdistan / Kani Group
According to Hoshiar, the prices of real estate in the Kurdistan Region of Iraq have increased by more than 500% over the last five years. His company Address Kurdistan is currently working on a residential project known as Dream City, located in the city of Erbil.
The “Empire World Project” is a prime example of the new Kurdistan; a combination of business and leisure, and showcases the promising increase in investment and business confidence.
Exclusive interview with Peshraw Majid Agha, Chairman of Empire World and Falcon Group.
Exclusive interview with Peshraw Majid Agha, Chairman of Empire World and Falcon Group.
