Iraq’s construction industry is experiencing a rapid period of growth as the country benefits from the relative political stability of recent years, according to the CEO of one of the country’s major construction companies.
Sarmad Al-Khudairi, CEO of Al Fayha Building Solutions, says that the country’s construction industry is in a “booming” stage and is benefiting from a government that is “getting stronger everyday.”
Speaking to Construction Week, Al-Khudairi said, “The security is improving everyday and it’s becoming attractive for many Iraqis, who left to work in Dubai or other countries, to go back and work in Iraq because it is their country. The country is now open to new suggestions, new rules and regulations, allowing new ideas.
“You’ll read everywhere that there are problems in Iraq but recession is not one of them. Growth and recession both have problems, but the problem of growth is better than the problem of recession,” he added.
“When Iraq moved into the free market, when the regulation opened up competition, whoever was best would stay in the market. Let’s forget the bad stories and just look forward because 2010 to 2011 was the start of a real construction fare in Iraq under reasonable security,” he said.
Construction Week Online