List of all articles filed under “kurdistan-top-stories” category.
As is the case in many conflict and post-conflict economies, in Iraq the private sector is primarily cash-based. Bank financing is unavailable for all but the largest companies and even then is limited mainly to overdraft facilities.
Not long ago, the future looked bright for the Kurdistan Region of Iraq (KRI). Long an oasis of peace in an otherwise unstable region, by 2013 the three Kurdish provinces of Erbil, Sulaimaniyah, and Dohuk had become the most prosperous part of the country. Not only were they developing their own oil and gas resources but they were also diversifying into non-oil sectors such as cement, tourism, and real estate. In the major cities consumers were flush with cash—business was booming at shopping malls, car dealerships, gold shops, hotels, and restaurants. Iraq’s tallest apartment and office buildings were under construction. The region’s dream of becoming the “next Dubai” seemed to be fast becoming a reality.
Since the beginning of the Islamic State’s (ISIS) hostilities against Kurdistan, which began in August 2014, Falcon Group has stepped forward to provide support and services to the Peshmerga forces.
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.
A major feature of the event was the announcement of, and signing ceremony for,the upgrading of the Marriott Hotel, already under construction at Empire World, to the status of a Five Star JW Marriott Hotel, as well as announcing a new Courtyard by Marriott Hotel soon to be constructed by Falcon Group near Massif.
Kurdistan Sector Analysis
North Bank – Iraq’s Largest Bank (Private) — is in good position for continued high growth
For Nozad Dawood Fattah Al-Jaff, chairman of North Bank, the goal is to be not only the largest bank in Iraq, but to be recognized as a strong regional player as well.
Kurdistan Top Stories
Falcon Group appoints new Executive Vice-President
“Larry Milam brings solid leadership skills as well as broad experience and in-depth knowledge of all aspects of business toward the task of leading our company forward. Having just celebrated our 10th Year Anniversary, Falcon Group will continue to grow and flourish under Larry’s guidance.”
Kurdistan Top Stories
Falcon Group expands into oil and gas services providing everything from equipment rental to highly-trained security
The Kurdish conglomerate Falcon Group — a holding company for a diversity of units, ranging from construction to agriculture — formed a new company last year focused on servicing the region’s oil and gas businesses, including equipment rental, security, catering, housing and warehouse space.
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.
“We focus our efforts to rebuild Iraq and its different sectors like construction, real estate, transportation, agriculture, security, oil and gas services and many other fields … because we love our country and we focus on rebuilding and investing in it.”
