British Chestertons Global has announced the opening of a new office in Baghdad as part of its Middle East expansion plans, the company stated on May 6.
Currently operating out of the United Arab Emirates the company has set sights on the fast developing Iraqi market which has seen an explosion of development in recent years due to foreign direct investment (FDI) in that country.
Iraq's real estate sector, valued at $1.12bn ($1.12bn), is projected to grow annually by 6%, attracting increasing investor interest, according to government figures.
Government-backed infrastructure projects, including plans to build one million housing units, are driving sustained demand across residential and commercial markets, Chestertons Global reported on May 6.
Baghdad is becoming a key development centre, with the construction industry expected to grow by 4.9% annually between 2025 and 2028.
The new Baghdad office will offer comprehensive property services, including sales, lettings, investment advisory, valuations and market research.
Related Articles
Kuwaiti Weyay Bank launches Jeel Dasman card to promote financial literacy
Kuwait’s first digital bank, Weyay Bank, has launched the Jeel Dasman card as part of a partnership with Dasman Bilingual School aimed at developing students' financial skills and nurturing their ... more
UAE: TA'ZIZ signs petchem supply deal with India’s Sanmar Group
TA’ZIZ has announced the signing of two-product sale agreement term sheets with India’s Sanmar Group, a global manufacturer of specialty chemicals. ... ... more
SABIC sees pressure on profit margins due to petchem overcapacity
Saudi Basic Industries Corp. (SABIC) CEO Abdulrahman Al-Fageeh said this week that global overcapacity in the petrochemicals industry had put pressure on profit margins, leading to reduced operating ... more
Most Read
-
US expands oil sanctions on Russia
29 days ago
-
India’s smart metering push gains momentum
4 months ago