The Ministry of Construction, Housing, and Municipalities in Iraq offers investment opportunities for Egyptian companies to participate in various development projects. These projects include the establishment of over 414,000 new housing units in 7 different cities.
According to a statement issued by the Egyptian Federation for Construction and Building Contractors, the Federation clarified that the available projects in Iraq are part of ongoing cooperation and aim to intensify the presence of Egyptian companies interested in working abroad.
The Federation added that the map of targeted housing units within the 7 cities is being divided based on population distribution needs. The available investment and development areas and the number of targeted units in each city are specified.
The Egyptian construction sector has several Egyptian companies in over 20 countries abroad, working on various projects. The sector has also witnessed an increase in project tenders and bids from several African countries, including tenders for projects belonging to the Islamic Development Bank. Additionally, there are diverse projects in Libya and Saudi Arabia, and companies are seeking opportunities for projects with international financing.
It is worth mentioning that the Republic of Iraq aims to activate a map for reconstruction and development, which includes diverse programs to implement a massive package of integrated infrastructure projects and other development projects within 5 years. The budget allocated for reconstruction projects in Arab countries is estimated at around $100 billion.
The collaboration between Iraq and Egyptian construction companies holds promise for addressing the housing shortage and contributes to the broader goals of reconstruction and development in Iraq. By engaging Egyptian expertise and resources, Iraq aims to accelerate its infrastructure development and create sustainable communities for its citizens. This partnership aligns with Iraq’s vision of attracting foreign investment and leveraging international expertise to drive economic growth and enhance the quality of life for its population.
