Erbil · Bahrka Road (near Ankawa) · Alcove Co. / master partners
Alcove Co.’s commercial office and lifestyle retail hub on Bahrka Road near Ankawa—offering 250+ modern office configurations from $120,000 on phased commercial handover.
Erbil Avenue & Avenue Square brings purpose-built Grade-A commercial strata offices and lifestyle retail to the fast-growing Bahrka Road corridor beside Ankawa. Priced from $120,000 to $380,000+ across cash and off-plan installment releases, it targets businesses priced out of 40m Gulan Street while chasing 7.5% to 9.5% gross commercial office yields. Because this is commercial stock—not residential housing—it does not qualify for the $50,000 KRG residency route.
Compiled from November 2026 commercial benchmarks. Confirm handover stage, shell-and-core vs. fitted delivery, and assignment lock-up rules per phase.
| City | Erbil |
|---|---|
| Corridor / ring road | Bahrka Road (near Ankawa) · Airport Road, Ankawa & Baharka Corridor Guide |
| Developer | Alcove Co. / master partners |
| Masterplan size / scale | Bahrka Road commercial business hub and Avenue Square lifestyle dining/recreation promenade near Ankawa |
| Property types | Mixed-Use / Commercial |
| Unit types & sizes | 250+ modern Grade-A office configurations and lifestyle retail units |
| Price band (USD) | Office units: $120,000 – $380,000+Entry bands across current developer and resale stock |
| Estimated monthly rent (USD) | Commercial office leasing; 7.5% – 9.5% gross commercial yield bandCommercial office leasing |
| Gross yield | 7.5% – 9.5% gross |
| Title track | Off-Plan InstallmentsPrimary sales are off-plan developer installment contracts with phased commercial handover; confirm subdivided commercial Tapu timeline in writing. |
| Monthly service fee | $110 – $240 / mo |
| Power / Runaki infrastructure | Commercial-grade supply planned per phase; confirm handover specification |
| $50,000 residency | Not residency-qualifying (commercial stock)Subject to the developer’s confirmation letter and Residency Directorate clearance |
| Reference unit | Office unit · $185,000 · 110m² · $1,682 / m²KRG Property reference unit used for $ / m² and the calculator preset; indicative, not a quoted price |
| Residency notice | Commercial office/retail stock does not qualify for the $50,000 residential KRG residency permit |
Benchmarks compiled November 2026 from developer price lists, partner brokerage listings and resale transactions. Methodology
Traditional Erbil offices sit either in expensive Golden Zone towers on Gulan Street or in converted Ankawa villas with scarce parking. Erbil Avenue & Avenue Square targets the middle ground: dedicated commercial floor plates paired with curated dining and lifestyle footfall along Bahrka Road.
| Hub | Office entry band (USD) | Commercial positioning |
|---|---|---|
| Erbil Avenue & Avenue Square | $120k – $380k+ | Bahrka Road near Ankawa; 250+ modular offices, lifestyle retail anchor, installment plans |
| Gulan Park & WTC Erbil | $185k – $2.7M | 40m Gulan Street flagship; Radisson/Gulan Mall integration, multinational HQs |
| Empire Business Towers | $180k+ | 100m / Airport Road Golden Zone; Marriott commercial hub, delivered cash resales |
With entry office units starting at $120,000 compared with $180,000+ at Empire World and $185,000 at Gulan Park & WTC, Erbil Avenue lowers the ticket for SMEs, clinics, tech teams, and regional agencies looking for modern parking and Ankawa proximity.
Our reference unit models a 110m² commercial office at $185,000 ($1,682 / m²) leasing at $1,300 per month. Below is how a direct developer off-plan plan compares against buying an assigned secondary resale contract:
| Line | Direct off-plan | Resale contract |
|---|---|---|
| Purchase price | $185,000 | $185,000 |
| Developer name-change fee | $0 | $1,500 |
| Buyer brokerage (1.5% on secondary) | $0 | $2,775 |
| Independent legal, contract & NOC checks | $750 | $750 |
| All-in acquisition cost | $185,750 | $190,025 |
| Cash needed at signing (modelled 25% down + costs) | $47,000 | $190,025 |
| Modelled monthly installment (× 36 months) | $3,083 | Per assigned schedule |
| Gross annual rent at $1,300 / mo | $15,600 | $15,600 |
| Gross yield on purchase price | 8.4% gross | 8.4% gross |
| Less service ($160 / mo) & 5% vacancy | −$2,700 | −$2,700 |
| Net yield on all-in cost (pre-rental tax) | 6.9% net | 6.8% net |
Bear two commercial nuances in mind. First, our 25% down / 15% handover / 36-month schedule is a modelling baseline—ask Alcove Co. for the exact current phase schedule in writing. Second, commercial offices delivered in shell-and-core state require tenant or landlord fit-out capex (flooring, glass partitions, HVAC distribution) before rent starts, which directly affects first-year cash-on-cash yield.
Buying commercial off-plan property in Erbil carries the same developer-contract mechanics as residential towers, plus commercial leasing and tax considerations:
Check the project’s Kurdistan Board of Investment licence and confirm the late-handover penalty clause and exact delivery milestone for your specific building or block.
Obtain the technical specification annex specifying electrical load, fibre ducting, HVAC connection points, and allocated underground/surface parking bays per office.
Corporate tenants in Kurdistan routinely require formal commercial lease contracts and tax registration. Factor the 10% annual rental revenue tax benchmark into net yield projections.
Located on Bahrka Road directly bordering Ankawa’s services and residential belts:
Read our Commercial Office & Retail guide, our Airport Road, Ankawa & Baharka guide, and our Gulan vs. Airport Road towers comparison, alongside nearby Lebanese Village and Pavilion by Rams.
The calculator loads our 110 m² reference office at $185,000 on a direct off-plan installment plan. Toggle the 10% rental revenue tax provision on to stress-test formal corporate lease net returns.
Pre-filled with the office unit: $185,000, 110 m², direct off-plan developer installment plan, $1,300 rent and $160 service a month. Every figure stays editable.
Calculate Closing Costs & Net Yield for Erbil AvenueNo. The $50,000 KRG property residency pathway applies to residential units in approved developments, not commercial offices or retail units.
Office units run from $120,000 to $380,000+ across cash and installment phases, targeting 7.5% to 9.5% gross commercial office yields once leased and fitted.
Commercial units in Erbil are frequently handed over in shell-and-core or semi-fitted condition. Always confirm the exact handover specification, MEP points, and parking allocation in the contract annex.
Benchmark service charges are $110 to $240 per month depending on unit area, covering common lobby upkeep, lifts, security, and Avenue Square promenade maintenance.
Secondary assignment is handled at the developer’s office once the contract’s minimum paid lock-up threshold (commonly 30%–50%) and any name-change fee are satisfied.
Unit sourcing
We obtain Alcove Co.’s current unit availability, installment schedules, and handover specifications for Erbil Avenue & Avenue Square, check any resale contract lock-up terms, and share an itemized commercial brief.
Gulan Park / WTC partners · Gulan Street (40m, Golden Zone)
Empire World / Hewa Group · 100m Road & Airport Road (Golden Zone)
Hariri / master developer · Baharka Road (near Ankawa)
Rams Global · Airport Road / 120m corridor
Your reference is KRG-0000-0000. Keep it for any follow-up.
