New $249m Housing Deal in Diwaniya

Bloomberg reports that Iraq’s Kayar Group and Jawaharat Alrawabi have signed a $249 million (290 billion Iraqi dinar) contract to build 3,827 housing units in the south of Diwaniya city.

Ahmed Hisham, president of the Diwaniya Investment Commission told the agency:

We are also styuding designs for other companies to build 15,000 residential units. Some of these companies are from the UAE, Italy, Brazil and Iraq.

The project is to be completed within three years.

In March 2010, the government approved plans to build 1 million housing units by 2014 for lower- and middle-income families to help solve the housing shortage.

(Source: Bloomberg)

One Response to New $249m Housing Deal in Diwaniya

  1. Sammy May 13, 2012 at 8:10 am #

    Good Huge sum of money, and the companies are Iraqi, Turk and Brazils
    Let the money laundering and corruption flourish
    I wonder why there are no Japanies, Korean or German or even Americans, they would be more honest no doubt.