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$7.8bn ‘Petrodollars’ Allocated for Development

$7.8bn ‘Petrodollars’ Allocated for Development

By John Lee.

The Iraqi cabinet has allocated $7.8 billion for development projects in oil-producing provinces, according to Al-Shorfa.

The Minister of Planning Ali al-Shukri (pictured) said.

“The amounts are allocated for various economic, social, and service development projects in the housing, education and energy sectors, and for environmental protection projects, treatment of environmental effects caused by oil extraction in those provinces, including the modernisation of extraction equipment, control of gases emitted from oil wells and oilfields, and creation of work opportunities for the residents of those provinces.”

The allocation is part of a scheme through which $5 is set aside from the proceeds of each oil barrel to be used for the development of oil-producing provinces.

(Source: Al-Shorfa)

Posted in Oil & Gas0 Comments

UNDP Considers Development Plan

UNDP Considers Development Plan

Foreign Minister, Hoshyar Zebari, discussed on May 13, 2014 with UNDP Country Manager, Adam Abdel Mawla, the programs and projects of the UN in Iraq.

The UN representative stressed that all development programs will be run, from the beginning of next month inside Iraq, not from abroad, confirming that the organization will open a big branch office in Basra by the end of this month, and aspires to open an office in the city of Karbala to cover the Mid Euphrates region, adding that the organization has an office in Erbil.

The two sides discussed the objectives of the development plan, which was set by the relevant ministries, for the period 2015-2019.

They also discussed the relations between Iraq and the organization and the government’s keenness to provide the best means and facilities for the organization’s work to support national development projects.

(Source: MoFA)

Posted in Industry & Trade0 Comments

Bloom Properties Win Major Karbala Development

Bloom Properties Win Major Karbala Development

By John Lee.

Bloom Properties, the Dubai based multi sector subsidiary of National Holding, has won a major housing development in the Karbala governorate after signing an agreement with the provincial governor Amal al Deen al Hir and the Iraqi National Investment Commission.

The 40,000 housing unit development will be constructed in phases over eight years and will accommodate 200,000 people when finished. Located next to Lake Razaza, the development known as Shores of Karbala will cover some 20 square kilometers. Bloom Properties CEO Simon Azzam said of the development,

“With the signing of this contract, we are set to commence work on the preliminary planning phase. This is one of the largest real estate projects in Iraq and will be developed on several phases taking into consideration high quality standards suitable for such a project. The “Shores of Karbala” will cater to all sections of the society and it will offer will offer significant investment opportunities, which in turn help generate considerable job opportunities for Iraqis. ”

Dr. Sami al Araji, head of the National Investment Commission noted how this was a part of the government’s plan to build as many as 2 million new housing units.

“The project will contribute to the urban planning development of Karbala. Our strategy is to take the holy city to a new level by improving the distribution of population density and urban centres and shaping it into a vibrant metropolis. Karbala will also comprise multiple modern centres that will be complemented by the establishment of a series of ecosystems. This is in line with our strategy to augment landscaping areas across all plots.”

(Source: Construction Week Online)

Posted in Construction & Engineering0 Comments

1500 Housing Unit Development Planned for Baghdad

1500 Housing Unit Development Planned for Baghdad

By John Lee.

Baghdad governor Ali al-Tamimi has announced the completion of a plan for 1500 new housing units in the Baghdad governorate.

The moves comes as the Iraqi government recently announced it would be falling short of its target of 2.5 million new housing units to meet demand.

Housing and Construction minister Mohammed al-Darraji  (pictured) has said the government plans to spend $5bn on housing in the coming years.

At a recent Dubai summit, the Ministry of Housing and Construction called on UAE investors to help alleviate the situation promising excellent return on investment, due to high demand.

Governor al-Tamimi was optimistic about the recent development:

“Baghdad Governorate expressed its interest in the housing field and seeks to reduce the housing crisis through establishing the housing complexes within the plans of 2014 and the upcoming years.The Governorate coordinates with the Ministry of Housing and Construction in order to contribute in implementing the housing projects and reduce the housing crisis.” 

(Source: AIN)

Posted in Construction & Engineering0 Comments

UK Export Finance to Help Kurdistan Development

UK Export Finance to Help Kurdistan Development

A delegation from the UK Export Finance Department visited the Kurdistan Department of Foreign Relations to discuss opportunities for building further relations with Kurdistan in various fields of infrastructure and investment.

The UK delegation was led by Steve Dodgson, the Business Group Director of UK Export Finance and included the British Consul General, Hugh Evans and a team of UK Export Finance which included Mr. Paul Radford, Mr. Max Griffen, and Mr. Tahir Ahmed. The Assistant Head of the DFR, Siham Jabali and other senior DFR officials also attended the meeting.

Mr. Dodgson expressed UK Export Finance’s willingness to start their activities in the Kurdistan Region and stated that Kurdistan will be a new market for them. He added that this visit is a fact finding mission which should provide them with a better understanding of Kurdistan and the way it operates.

The Head of the DFR, Minister Falah Mustafa, highlighted the importance of foreign investment and in ensuring the continued development of Kurdistan. He reiterated that the United Kingdom was Kurdistan’s partner of choice and hoped that UK Export Finance Department would find suitable opportunities here in Kurdistan.

Speaking about the KRG’s shift towards seeking quality over quantity, Minister Mustafa said, ‘We want to provide our people with the best services and UK Export Finance can play a significant role in assuring that companies succeed in their mission in Kurdistan.’

Posted in Banking & Finance, Industry & Trade1 Comment

DEVELOPMENT PROJECT REPOSITORY REFINERY DIWANIYA

DEVELOPMENT PROJECT REPOSITORY REFINERY DIWANIYA

Posted in Comments Off

Urban Development in Post-Conflict Cities

Urban Development in Post-Conflict Cities

By Leanne Case.

Solidere Beirut: A Good Practice Example of Urban Development for Other Post Conflict Cities to Follow?

So many towns and cities have failed to achieve comprehensive regeneration in the aftermath of war.

This paper, an abridged version of my MSc dissertation, explores the private sector led renewal model used in Beirut, commonly known as Solidere — a project which has been successful where so many others have failed.

The approach used was unique and very controversial. This paper looks in particular at how the groundbreaking approach to land acquisition, impacted the development and the outcomes of this ambitious development programme.

This model is set to become Lebanon’s biggest export. Any urban practitioner involved in post conflict development should be asking whether this is a cause for celebration or concern.

Please click here to download the abridged dissertation.

(Picture: Saifi Square, Beirut – Solidere)

Posted in Blog, Construction & Engineering, Industry & Trade, Politics5 Comments

Oil Development Continues at Hamrin

Oil Development Continues at Hamrin

By John Lee.

As part of an effort to continue to develop and expand oil production in Northern Iraq, the Minister for Oil Abdul Kareem Luaibi [Elaibi] (pictured) has announced that the ministry is accelerating development at the Hamrin (Himreen) field.

This is despite an increased security risk in the area around the field’s infrastructure, according to Iraq Oil Report.

Development of the unused wells in the Hamrin mountains began in June 2011, and prior to then the wells had not seen any production since the early 1990s.

The Hamrin mountains are directly north of Tikrit and approximately 20 miles from Baiji, an area of historically high insurgent activity.

(Source: Iraq Oil Report)

Posted in Oil & Gas2 Comments

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