Erbil

Al Zaiton City

Located in the South East of Erbil, the ambitious Al Zaiton City project will bring together over 2000 residential units as well as a mall, stadium and sports center, schools, supermarkets, and much more.

 

 

Al Zaiton City Masterplan:

Currently, two thirds of the units have been sold off plan. The remaining opportunities to invest in this rare project are the last stage units that have 300 square meters of habitable space built on plots of land of 354 square meters.

The prices for the remaining villas are 170 000 USD for a corner villa and 160 000 for a none corner villa.

 

 

 

 

 

Payment structure and schedule is as follows:

170 000 USD Category:

  • ($30,000) upon signing the contract.
  • ($30,000)  3 months after singing the contract.
  • ($30,000)  6 months after signing the contract.
  • ($30,000)  9 months after signing the contract.
  • ($25,000)  12 months after signing the contract.
  • ($25,000) upon delivery of the villa.

160 000 USD Category:

  • ($25,000) upon signing the contract.
  • ($25,000) 3 months after signing the contract.
  • ($25,000) 6 months after signing the contract.
  • ($25,000) 9 months after signing the contract.
  • ($30,000)12 months after signing the contract.
  • ($30,000) upon delivery of the villa.

If you would like more details on this project, contact us by clicking here.

 

 

 

 

 

 

 

 

English Village Erbil

Located on Gulan Street, the English Village was one of the first compounds to be developed in Erbil. Offering large habitable space, the villas in this compound are considered one of the best in the region.

The vast majority of the villas are used as offices for companies. Rent prices for the English village are around 3400 USD per month, a price that less and less companies are willing to pay.  As other compounds are developed, and offer cheaper prices, companies are slowly but surely moving out of the English Village.

Purchase prices for villas in the English village are nearing the half million US dollar mark.

 

Prime location in Erbil

Prime location can have a very different meaning depending on where you are in the world.

In Erbil for instance, as bizarre as it may seem, being located near the airport seems to a be a good thing. The most expensive plots of residential land are located under a kilometer from the airport, as are the majority of the recent residential real estate developments such as Naz City and Empire.

Currently, you have around ten planes landing and the equivalent taking off from the airport. This number is set to increase steadily as the region grows and develops. Discussing investment opportunities with a local real estate agent recentl, we asked him why the prices of these locations were so hight considering that you could hear all the air traffic coming in and out of Erbil International airport. His answer, to my astonishment, was that these places were sought after partly because they were close to the airport. This fact made it appealing to them.

Maybe its because their is a lack of new developments and that since these are the only habitable ones on the market, it could explain the prices. Ince all the developments that are in the pipeline come to fruition (the first ones should be ready by the first quarter of 2012) then slowly but surely, being situated next to the airport might lose its appeal.

Kurdish Commercial Real Estate

When we talk about commercial real estate, we shall distinguish between office buildings and shop space.

With regards to offices, currently there is a lack of proper commercial real estate in Kurdistan. Buildings destined for offices are under construction and the first ones should come to fruition within the next 18 months.

At this point in time, it is residential villas that are being used as offices by all the companies. Technically, you can find offices in downtown buildings, but their condition leaves a lot to be desired and are not fit for any company needing to host meetings or clients.

The closest you will get to dedicated office blocks is in the new development Italian City. The first two rows of the development are individual houses of around 200 square meters that were purposly built to be used as offices. Other than that, the villas located in the Italian City compound, English Village compound, as well as houses in the Christian Ainkawa district are sought after spaces used as offices until proper office buildings exist.

The need for commercial real estate in Kurdistan, and more specifically Erbil, is growing. As the foreign companies slwly enter the markeplace, and the oil and gas industry grows, purpose built office buildings will be dearly needed.

The price of what we can call regular commercial real estate (shops, showrooms, etc), has dramatically risen in the past few years. Prices have more or less doubled between 2007 and 2011.

Currently, the primest commercial space is situated on the 100 meter ring road that circles the city.

If you are interested in getting more details about commercial real estate in Kurdistan, you can contact us by clicking here.

American Village

Developed by Sigma International developers, the American Village residential compound was the flagchip compound of Kurdistan. It was the first of its kind and paved the way for other such developments.

Located in the North of Erbil on the road leading to Salahedine, and situated very close to the  International School of Choueifat, considered the best in the region, the American Village is to date the best compound in the region.

Click here to go directly to the American Village website, or contact us to get further information.