(MENAFN) Top Saudi companies are attending the Iraq International Real Estate Investment 2023 Exhibition in Baghdad to attract investment for the Kingdom's construction sector. The event, held between May 1 and 4, is also an opportunity for the delegation to promote the "Made in Saudi Arabia" program in the region. The Saudi pavilion at the exhibition comprises 18 construction and real estate companies, as well as representation from the Saudi Export Development Authority and the Ministry of Investment.
The annual exhibition is one of the largest gatherings of companies specializing in building and construction materials in the Middle East and North Africa region. Saudi firms are participating in the event to promote national goods and services and penetrate the Iraqi market, which is seen as one of the most promising opportunities in the region. The event is also expected to provide insights into the latest trends in real estate, construction, pricing, and realty investments.
The Saudi participation in the exhibition extends its growing economic relations with Iraq. The Kingdom's non-oil exports to Iraq have reached SR14.8 billion (USD3.95 billion) during the past five years, with the building materials sector recording the highest export volume of SR4.42 billion. The visit of top Saudi companies to the exhibition is a step towards further strengthening economic ties between the two countries.
The event provides an opportunity for the Kingdom to showcase the potential of its construction sector and highlight the quality of its products and services. The "Made in Saudi Arabia" program aims to increase the exports of locally produced goods and services, and the participation of Saudi companies in the exhibition is a reflection of this initiative. The Kingdom's growing economic relations with Iraq are expected to bring mutual benefits for both countries and contribute to the development of the region's construction sector.
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