Bora Can
Yıldız explained the market conditions in the Middle East and his investments
in the region to the international investors at the Dubai MEED Conference
Bora Can Yıldız, the Chairman
of the Board of EID Construction running energy and construction projects in
the Middle Eastern countries, especially in Iraq, said: “Iraq needs 2,5 million
new dwellings in the upcoming period. The government of Iraq allocated a budget
of $ 36 billion for the construction of new dwellings until 2016. Having
successfully represented Turley in many international conferences such as World
Economic Forum, World Political Forum, Middle East Energy Conference, the
Turkish entrepreneur Bora Can Yıldız told the international investors about the
market conditions in Iraq at the infrastructure conference called "MEED
Middle East Iraq Infrastructure Conference” held in Dubai.
Underlining that the
Iraqi people have never left hospitality behind despite of the wars and
poverty, Yıldız said: “Someone who was born in this region and lived here until
his 30s has witnessed many wars since the beginning of his life. However,
modesty, sharing and hospitality which no longer dominate in the Western
countries are in the nature of the people living here. The western companies
arriving at this region aim at making money and returning to their countries in
a short time. However, the companies must set it as an objective to help the
people here in the first place. The Turkish companies and Turkish people are
welcomed here due to the common moral values and culture. Due to the tension
between the governments, the Turkish companies encounter many obstacles.
However, what is to be remembered is that this situation arises from the
political reasons. There is a common legacy and history among the Turkish
people, Iraqi people and Middle Eastern people. If the brotherhood and unity
are achieved once again, the economic stability, safety and peace will be
established as well.”
$ 36 BILLION WORTH RESIDENTIAL INVESTMENT TO BE MADE IN IRAQ IN 3 YEARS
$ 36 BILLION WORTH RESIDENTIAL INVESTMENT TO BE MADE IN IRAQ IN 3 YEARS
Stating that the bureaucrats and speakers participating in the meeting
mentioned the infrastructure problem in general, Yıldız said: “Based on the
figures presented by the Iraqi ministers in the conference, 500 new bridges and
4.500 km long road will be built in Iraq next year. 1.5 – 2.5 million dwellings
are needed for the upcoming period. All the roads in the southern regions were
destroyed by the American tanks. Iraq has 1600 km long road in total. $ 400
million is spent annually for the renovation of such roads. 71% of the people live
in the rural areas under difficult circumstances, and at least 3 persons stay
at the one bedroom houses. The total goal is decuple the current number of the
houses, and for this reason, there is a need for the courageous companies to
make long-term investments in Iraq. While the Gross National Product of Iraq
was $ 81 billion in 2010, it will be doubled and reach $ 165 billion by 2013.
The budget to be allocated for the construction of the new dwelling zones is $
9.1 billion this year; it will be $ 11.9 billion in 2014; and $ 15.3 billion in
2015. For the construction of new roads, $ 2.6 billion, and for the
construction of motorways $ 3.8 billion will be spent. Additionally, the
construction of bridge will cost $ 1.1 billion. Iraq has 1200 bridges now;
however, 500 bridges will be contracted out in a short time as of this year.”
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