The project involves establishing a cement block factory in Iraq, producing cement blocks characterized by their hardness, strength, and resistance to various weather conditions. They also offer reasonable and affordable prices and are excellent sound insulators. The project targets individuals, contracting companies, real estate investors, contractors, and others. Given the ever-increasing demand for cement blocks, Mashroo3k Company expects the project to be a huge success and generate high financial returns.
In 2019, the global cement block market value was approximately USD 492.74 billion and is expected to exceed USD 602.69 billion. The market is projected to grow at a CAGR of 2.5% during the forecast period.
The construction sector plays a prominent role in the development process and economic renaissance. The sector has achieved significant growth in Iraq over the past decade, and it is expected to fully recover and increase its contribution to Iraq’s non-oil GDP, achieving the goals of the 2030 development vision, which seeks to build a diversified and sustainable economy. The following are the most important indicators of the sector in Iraq:
The growth rate of the number of factories in Iraq is 8.9% over the coming years (2022-2027).
In 2020, the number of construction and renovation permits reached approximately 17,665.
_ The number of building permits granted to the private sector (for industrial activities) is 33 permits.
_ The number of workers in the construction sector under the umbrella of the private sector reaches 29,355 workers, and their wages amount to 545,304,394 thousand dinars.
_ Workers in public sector buildings and constructions: 23,850 workers, whose wages reach 120,014,512 thousand dinars.
