UAE’s IIAJ Wins $245m Diwaniya Housing Project

Bloomberg reports that Iraq has agreed a $245 million contract with IIAJ Ltd, of the the United Arab Emirates, to build 1,083 housing units in Diwaniya.

The al-Zahra residential compound is to be completed within two years on the southwestern side of Diwaniya city, a spokesman for the Diwaniya Investment Commission told the news agency.

The province needs 100,000 residential units, he said.

Iraq plans to spend $4 billion on housing through 2016 to reduce the housing shortage, Construction and Housing Minister, Mohammad Saheb al-Darraji, recently said.

(Source: Bloomberg)

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