Companies Selected for $50bn Housing Projects

Dr Sami Al Araji, chairman of Iraq's National Investment Commission, has said the government has selected 35 international firms to build one million new housing units across the country, Arabic Al Sabah newspaper has reported.

The firms were selected from 117 applicant companies, and are reportedly from U.S., Canada, Turkey, Spain, France, Germany and South Korea.

The $50bn  [60 trillion Iraqi dinars] project will include 244,000 units in the capital, Baghdad, 80,000 in Basra, and 100,000 in Mosul with the remaining units to be constructed in other provinces, including the Kurdistan region, according to population density. The project is expected to be completed within two years of signing the contracts, which is expected to take place within the next three months, Al Araji said.

(Sources: German Press Agency, AME Info)

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