(PRWEB) May 15, 2014
According to online news source investiraq.org, the present Iraqi housing shortage pre-dates both the ‘Saddam Era’ and the Gulf War. But, despite decades of economic sanctions and civil unrest, the country is on the mend with a steady influx of oil dollars that continue to boost existing housing values, making Baghdad, Tikrit and several other rebuilt metropolitan areas attractive as real estate investments. SCAS Capital today announced the release of the Baghdad Estates Investment (BEI) fund, its newest endeavor designed to meet the anticipated Iraq investment demand.
Iraq on the Mend – Housing Shortage Persists
As a formerly war-torn region, Iraq has made great strides in economic growth. The country ranks second in the world behind Saudi Arabia for oil reserves, and, as reported by financial news magazines IEA and IMF:
Iraq is on track to not only claim its position as the world’s leading oil exporter but also to achieve the world’s highest sustainable compounded growth of 9 percent per annum for the next five years.
However, the country has seen its housing shortage go, from bad to worse, with new construction unable to keep up with demand coming from a surging population and the obsolescence of existing dwellings. Iraqi population growth stands at 2.9 percent annually and the lack of construction since 1997 to date has widened the housing deficit from 350,000 to 3 million units.
“Few companies remain undeterred by the country’s political strife and recognize Iraq for its tremendous investment potential,” says SCAS Capital founder Samir Chreim. The company is the only private equity firm targeting Iraq and investing in real estate projects and companies within its borders.
Iraq Investment Future
Since 2009, SCAS Capital has released a series of successful real estate investment funds ranging between $5 million and $15 million each, including Tikrit Estates Investment I and Tikrit Estates Investment II. The new Baghdad Estates I (BEI) fund will target National Investment Commission (NIC) sponsored projects as well as privately held real estate projects and is expected to produce an internal rate of return (IRR) exceeding 65 percent.
Interested parties may visit http://scascapital.com/ for more information about the new SCAS Capital BEI fund.
About SCAS Capital:
SCAS Capital is the only private equity firm targeting Iraq and investing in real estate projects and companies within the country. The new Baghdad Estates I (BEI) fund will target National Investment Commission (NIC) sponsored projects as well as privately held real estate projects with an internal rate of return (IRR) expected to exceed 65 percent. SCAS achieve these returns by adopting investment strategies that focus on real estate assets in prime locations as well as projects that enjoy full government and NIC backing in safer areas.
More Iraq investment information is available on the SCAS Capital company website (http://scascapital.com/).
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