The construction industry is booming globally, though many countries are facing problems like housing price bubbles etc. In Iran, 70% of the population own their own house. This can be compared to developed countries and shows signs of importance of the real estate and property among assets people hold.
The annual turnover in Iran construction market is about US$40 billion and the real estate sector contributed to 5% of GDP.
Construction project in Tehranimage source
So there are opportunities and some threats, which by carefully studying them, international firms and companies and investors can benefit.
Iran faces a housing shortage due to its population growth and urbanization. Despite the construction of a large number of housing units, supply is relatively low when compared to demand. According to the Ministry of Housing and Urban Development, 1.5 million new housing units are required annually, but only 700,000 units are constructed. To maintain a balance between supply and demand, 4.0 million new units are required to be built to address the shortage. Iran's housing deficit and growing urban population will continue to generate demand for residential construction over the forecast period, and provide lucrative opportunities for residential housing developers.
This means the Total Addressable market size is huge.
At irxp.com, we propose our clients to attend related exhibition in cities like Tehran, to engage with the market through a minimum risk channel, to taste the market and potential customers first and to build a network for partnerships and cooperation with related companies.
Here are top upcoming exhibitions in the industry:
- The 10th Doors & Windows Technology Int'l Exhibition - 23 Jan 2019
- Iran Building & construction Exhibition - 1 March 2019
- Iran Stone Exhibition - 9 July 2019
You can attend or visit these exhibitions through our services.