The Most Expensive Property in Iraq is …

Ask anyone where the most expensive property is in Iraq and you might expect to hear Baghdad, the capital, or Basra, the hub of the southern oil industry.

But according to this report, the highest prices are being paid for development land in Karbala, site of the shrine of Imam al-Hussein, the grandson of the Prophet Mohammed.

These prices are driven largely by a healthy tourist industry, as the city hosts large numbers of pilgrims who visit the shrines, but also be increasing commercial activity in the area.

This can be seen as perhaps another example of Iraq not conforming to expectations, and of people and businesses pressing ahead with development despite the obvious challenges of the security situation.

There is much more to Iraq than the headlines in the international press, and at Iraq Business News we aim to give you the full picture.

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