A Vibrant Construction Industry
There are many opportunities to be found in Iran, it is a country with a thriving economy and strong growth, a population with increasing purchase power and a taste for imported goods. However, while focus invariably falls on the petrochemical and refinery industries, it is the construction industry that is leading the way and driving this economic growth.
All over the country, expansion is leading to an explosion in construction opportunities, and for any business in the industry, it is a chance to make the most of one of the fastest growing economies in the region. Wherever you go, construction work is thriving, and it covers everything from the petrochemical industry to residential homes, but let’s look at what is taking place,
With petrochemical and industrial operations expanding, there are a lot of related construction projects launching to support that growth. From specialized refinery projects and other industrial building works, this expansion is creating job growth as well, both for construction workers and eventually for those employed by the new industry.
With industry operating on such large scales today, the construction of new facilities does not end with the facility itself, it also requires infrastructure around it. Everything from roads to homes, to schools and other amenities for workers is all required. As you can see, this creates a vast need for construction expertise, and for businesses with innovative approaches, or who have a unique take on old challenges, there is immense opportunity.
Whether it is a new, cheaper or faster way of building residential property, building techniques or simply manpower availability, there is a lot of potential within Iranian construction. This is doubly so in a country that loves foreign people and imported goods, and in fact bringing construction techniques from outside of the region can bring significant rewards of their own.
For investors there is opportunity too, and whether that is privately financed housing or in industrial expansion, the potential for growth in Iran is immense. As tourism is increasing in popularity, with 21 world UNESCO sites in the country, then construction for new hospitality projects is also expanding, and whether it is hotels or other projects, they represent another amazing opportunity for investors. With the country actively encouraging tourism and inward investment, there has perhaps never been a better time to find an opportunity in Iran.
Projected growth for the Iranian economy shows a GDP increase of close to 20% over the next 5 years, and construction is the driving force behind a lot of that growth. Already the second largest economy in the region, Iran is well placed today for serious investment. While it is easy to focus solely on the major industries, there are opportunities in all market sectors, and for investors of all sizes, industry professionals and associated businesses, Iran offers a genuine opportunity today and well into the future.
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