Iraqi Kurdistan needs to spend 200 billion dinars ($172 million) a year on homebuilding, an adviser to the housing ministry, Ammar al- Najjar, told Bloomberg in an interview.
“We are capable of resolving the housing crisis in the coming 10 years through building 5,000 units a year ...We’ll need 200 billion dinars a year to implement this plan.”
The Ministry for Housing and Reconstruction is in the process of awarding 250 billion dinars worth of contracts, al-Najjar said. Construction is expected to begin by the end of this year. The ministry awarded contracts for 1,500 homes with a value of 50 billion dinars last year, he added.