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Keeping with current market interest in Iraq’s infrastructure markets, Dubai-based Emaar Properties launched a $3bn development, called ‘Erbil Downtown’, in Erbil, the capital of Kurdistan region of Iraq.
Relatively unaffected by the political instability that interferes with infrastructural development in the country, Kurdistan region is viewed as an attractive investment hub, especially in the energy sector. 
The project is expected to reach completion in three stages over a period of five years or sooner, if market factors permit so. Covering an area of 541,000 sqm near the city centre, the development will include residential apartments, hotels and a shopping centre.
