Iraq has doubled its goal of building 500,000 housing units after international companies showed a healthy appetite to win the construction contracts, said the chairman of Iraq's National Investment Commission. As a result the war-shattered nation is looking for bidders to build one million units, valued at an average of $50,000 (Dh183,644) each, for a value of $50 billion. Iraq's growing population faces an acute shortage of homes after years of war and sanctions. The government, which hopes to build the one million new homes within three years, estimates it will need about two million new units in the next five years. "When we saw the huge interest by giant firms... this made us seize the opportunity instead of 500,000 to reach for one million," said investment commission Chairman Sami Al Araji. More than 100 firms showed interest in the ambitious project including American, the UAE, Chinese, Turkish and Canadian companies, he said.