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Damien Degueldre is the Vice President of Sigma International Construction Iraq; the Iraqi division of a US based company, that specialises in construction, engineering consulting and project development. As a company, Sigma International Construction has set itself apart by partaking in challenging construction projects in the line of crossfire. With projects involving the renovation and reconstruction of the Iraqi Ministry of Defence, the Baghdad Police College and the Electoral Commission Building under their belt, Sigma International Construction are developing a new residential development in Erbil, the capital of Kurdistan in Northern Iraq called the American Village.

We asked Damien to share a few thoughts about the real estate scene in Erbil and Iraq at large with us, and he was kind enough to oblige.

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The American Village in Erbil, Kurdistan is strategically located in a country with lots of future potential. It lies a convenient 15km drive from Erbil international airport and next to the international school of Choueifat.

A planned future hospital will also be close by giving residents required infrastructure for modern living. Surrounding the village are the striking Kurdish mountains offering spectacular views.

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The much-awaited Phase 1 release of the Tarin Hills development in Erbil, Iraq was announced on Friday 17th October. Phase one construction of retail & residential units on the massive 4.5 million square meter development in Erbil, Iraq has commenced.

There are currently retail and residential units in two, 11-storey buildings, Building A & B up on sale at extraordinarily low pre-launch prices. Here is a breakdown of the units:

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baghdad_cityscape.jpg
Construction in Baghdad [Credits: James Gordon via Flickr]

Baghdad’s property market has experienced a new breath of life in recent months after being stagnant for some time due to excessive violence. This was prompted by a dramatic fall in violence. While most real estate agents saw themselves jobless when sectarian killings raged in the city only last year, now they can’t seem to keep up with the new found demand.

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The U.S. Embassy in Baghdad

Despite the current political upheaval in Iraq, one area of the economy is already starting to recover – the Baghdad housing market. House prices fell through the floor last year as bombings and kidnappings increased. But as some stability begins to emerge from the rubble, the housing market has poked it’s head up from behind a parapet and said, ‘open for business.’

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