Construction industry of Iran

Seventy percent of Iranians own their homes according to Central Bank of Iran.

The construction industry of Iran is divided into two main sections. The first is government infrastructure projects, which are central for the cement industry. The second is the housing industry.[1] In recent years, the construction industry has been thriving due to an increase in national and international investment to the extent that it is now the largest in the Middle East region. The Central Bank of Iran indicate that 70 percent of the Iranians own homes, with huge amounts of idle money entering the housing market.[2][3] Iran has three shopping malls among the largest shopping malls in the world. Iran Mall is the largest shopping mall in the world, located in Tehran. The annual turnover in the construction industry amounts to US$38.4 billion.[4] The real estate sector contributed to 5% of GDP in 2008. Statistics from March 2004 to March 2005 put the number of total Iranian households at 15.1 million and the total number of dwelling units at 13.5 million, signifying a demand for at least 5.1 million dwelling units. Every year there is a need for 750,000 additional units as young couples embark on married life.[5] At present, 2000 units are being built every day although this needs to increase to 2740 units.[6] Iran's construction market will expand to $154.4 billion in 2016 from $88.7 billion in 2013.[7]

  1. ^ Ayse, Valentine; Nash, Jason John; Leland, Rice (January 2013). The Business Year 2013: Iran. London, U.K.: The Business Year. p. 82. ISBN 978-1-908180-11-7. Archived from the original on 2016-12-27. Retrieved 2014-03-16.
  2. ^ Iran Daily – Domestic Economy – 12/23/06 Archived 2007-09-07 at the Wayback Machine
  3. ^ Iran Daily – Domestic Economy – 04/09/07 Archived 2007-09-06 at the Wayback Machine
  4. ^ "Construction to Iran – for Australian exporters – Austrade". Archived from the original on 2007-03-06. Retrieved 2007-02-09.
  5. ^ "Iran Daily – Domestic Economy – 08/07/08". iran-daily.com. Archived from the original on December 12, 2008.
  6. ^ Cite error: The named reference Austrade was invoked but never defined (see the help page).
  7. ^ [1] [permanent dead link]