There is no exact statistic or reports about foreign investment on real estate development in Tehran and Iran, but according to an article, the second rising wave of Foreigners visits in real estate agencies after lifting sanctions has emerged in summer 2016. This group of visitors are more eager to find office units or buildings rather than residential section. The article also mentioned that foreigners have some problems to find their desirable building as most of commercial and office units in the market are very traditional and far from international standards. Also most of foreigners have tendency toward rental contracts for 2-5 years and not to buy (Eghtesad Online, 2016).
Major International Players of Development in Tehran and Iran
German Hotel Group Steinberger is the first group announced who wants to build 10 five and Four Star hotels in Tehran and other cities. Meanwhile it is rumored Turkey Intercontinental Group wants to build 10 Four and Five Star hotels, 1 or 2 of which would be in Tehran.
During past decade, Kuzu Group from Turkey was active in Iran Maskan Mehr Project, which consisted of 100,000 residential units. And KUZU Group, had to build 20,000 dwellings in Parand New City. Nowadays it is heard that Turkish Companies aim at building 10,000 residential units in Iran
Also Korean Companies Samsung C&T, Hyundai E&C, and Daewoo Posco aimed to build Hospitals in Tehran and Shiraz.
Turkey also is an active country in construction in Iran, Turkish energy Company Unit International announced on Saturday that it made a USD 4.2 billion deal with Iran to build 7 power plants which have 6,020 megawatts installed capacity. Meanwhile construction company Bergiz Insaat, in a joint venture with an Iranian state company, has already begun building a USD1 billion highway project and an USD 800 million subway in northwestern Iran, he said.
FAR Law Firm