Emaar, Faruk to Build $2bn Resort at Dukan

By John Lee.

Dubai-based Emaar Properties is expected to sign a contract worth over $2 billion with Kurdish company Faruk Group Holding to develop a resort in Sulaymaniyah.

Herish Muharam Muhamad, chairman of Kurdistan Investment Board (KIB), said the Dukan tourist city project will include hotels, restaurants, residential areas, cinemas and casinos.

Emaar last year signed an agreement with Iraq government officials to develop housing and tourism projects in the country.

With 11,000 employees, Faruk Group Holding claims to be Iraq's largest private company. It comprises 12 companies in businesses including construction, telecommunications, cement, hospitality and retail.

Bloomberg also reports that Emaar is bidding for a $5 billion housing project in central Iraq.

(Source: Bloomberg)

(Picture: Lake Dukan. Credit: CPT photo)

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