DUBLIN–(BUSINESS WIRE)–The “Construction
in Iraq – Key Trends and Opportunities to 2022” report has been
added to ResearchAndMarkets.com’s offering.
“Construction in Iraq – Key Trends and Opportunities to 2022” provides
detailed market analysis, information and insights into the Iraqi
construction industry.
Iraq’s construction industry suffered a sharp downturn in 2017,
contracting by 25.0% in real terms that year. This decline can be
attributed to depressed economic conditions, low oil prices and
political instability due to the conflict from Islamic State in Iraq and
Syria (ISIS).
Poor investor confidence led to reduced infrastructure construction
activity across the country. Overall, the industry posted negative
growth during the review period (2013-2017), registering a compound
annual growth rate (CAGR) of -9.95% in real terms.
Over the forecast period (2018-2022), however, the industry is expected
to recover and register positive growth driven by the government’s
efforts to revitalize the economy, as well as reconstruct the
infrastructure damaged during the ISIS war.
A gradual recovery in oil prices coupled with a relatively stable
political environment is expected to push the government’s ability to
invest in transport, residential and energy infrastructure projects over
the forecast period. The dire need for the redevelopment of destroyed
infrastructure offers vast investment potential for private and foreign
investors over the forecast period. In real terms, the industry’s output
value is expected to post a forecast-period CAGR of 7.58%.
The report provides:
-
The Iraqi construction industry’s growth prospects by market, project
type and construction activity -
Critical insight into the impact of industry trends and issues, as
well as an analysis of key risks and opportunities in the Iraqi
construction industry -
Analysis of the mega-project pipeline, focusing on development stages
and participants, in addition to listings of major projects in the
pipeline.
Key Highlights
-
The residential construction market is expected to retain its leading
position over the forecast period, with a share of 38.5% of the
industry’s total value in 2022. Over the forecast period, market
growth is expected to be supported by the government’s effort to
bridge the gap between the housing demand and supply in the country. -
In January 2018, the Ministry of Oil announced plans to develop new
oil refineries in the Fao, Qayara, Nasiriyah and western Anbar
provinces as a part of the Oil Refineries Program. The program
involves a total investment of IQD11.8 trillion (US$10.0 billion), and
includes the construction of processing units, distillation units,
storage tanks and related infrastructure by 2025. -
In May 2018, the government launched the National Development Plan
2018-2022, under which it aims to achieve a growth rate of over 7.0%
by 2022, while increasing the value of the country’s GDP to IQD292.5
trillion (US$247.1 billion) by 2022. Under this plan, the government
announced plans to develop various sectors of the economy, including
construction, transport and communications, energy, oil, water and
manufacturing. -
In March 2017, the Ministry of Communications (MoC) unveiled the
Fiber-to-the-Home project, under which it aims to provide over 90,000
internet connections in the Wasit, Basra, Kirkuk and Maysan
governorates. This is expected to drive public and private sector
investments in telecommunications infrastructure projects. -
The total construction project pipeline in Iraq – as tracked by the
Construction Intelligence Center (CIC) and including all mega projects
with a value above US$25 million – stands at IQD221.1 trillion
(US$186.7 billion). The pipeline, which includes all projects from
pre-planning to execution, is heavily skewed towards late-stage
projects, with 87.7% of the pipeline value in the pre-execution and
execution stages as of August 2018.
Key Topics Covered:
1 Executive Summary
2 Construction Outlook: At-a-glance
3 Latest News and Indicators
4 Key Drivers and Risks
4.1 Economic Performance
4.2
Political Environment
4.3 Demographics
5 Construction Outlook
5.1 All Construction
5.1.1
Outlook
5.1.2 Project analytics
5.2 Commercial Construction
5.2.1
Outlook
5.2.2 Project analytics
5.3 Industrial Construction
5.3.1
Outlook
5.3.2 Project analytics
5.4 Infrastructure Construction
5.4.1
Outlook
5.4.2 Project analytics
5.5 Energy and Utilities
Construction
5.5.1 Outlook
5.5.2 Project analytics
5.6
Institutional Construction
5.6.1 Outlook
5.6.2 Project
analytics
5.7 Residential Construction
5.7.1 Outlook
5.7.2
Project analytics
6 Key Industry Participants
6.1 Contractors
6.2
Consultants
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ynz6m5
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Related
Topics: Construction
