Iraq has recently come up with an economic success, though plenty of problems are there that should be given close watch. The housing sector of the country should be revamped immediately.
Statistics says that only 5 percent of the 2.5 million homes have been completed and plenty of projects are needed to be concluded by the year of 2016, the ministry of Housing and Construction revealed.
Experts expect the private sector to account for up to four-fifths of new builds in Iraq and the bulk of this investment will come abroad.
Aside from housing, Iraq's infrastructure is also in dire shape. The country needs to build 500 new bridges, which would raise its total to 1,700, while it also requires 7,000 kilometers of new roads.
This year, Iraq will spend $10 billion on infrastructure projects. The country is aiming to raise its fund by $15 billion per annum from the year of 2016.
ifpinfo
18 September
