Iran's Sanctions Payoff: Real Estate Is Hot

Buying gold, dollars, and euros is out. The only option is to build
Photograph by Behriuz Mehri/AFP/Getty Images

Contractor Mehdi Eslamipour stands amid piles of bricks and abandoned furniture at a Tehran building site where his company just knocked down a three-story villa to build a nine-story apartment building. “Everyone’s looking to build,” he says, pointing to three similar projects on the same street.

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