"There are two or three things that make Empire World the largest project in Iraq. There is an area for business, for residency, for hotels etc. all within the project. The land area is 750,000 square meters (185-acres) and the budget is $ 2.7 billion,'' said Mr Agha, elaborating that the finished complex will include 88 towers, 300 villas, a Marriott luxury hotel complex and such value-added facilities as a mosque and a medical clinic.
"We have already sold about 60 percent of the project," the chairman said, noting that Empire was a truly unique and large scale undertaking in Iraq.
Mr Agha added that the quality and design of the entire complex will make it amenable to foreign companies who want to situate their offices and residential enclaves in the Empire World complex, and also provide an inviting space for the many new start-ups in the KRG.
In recent interviews with media, the Empire World chairman said that the project is completely on track for its planned 2017 opening date. And that many companies have already ensured that they have secured a space in the development. He added that the development was already beyond 70 percent completion.
Project officials said that Empire World currently employs over 1,200 employees representing both local and foreign workers.
Mr Agha noted that key project sections such as the Royal City, a complex of 300 luxury villas, sold out even before 2010. According to the Empire World chairman the property values of the Royal City villas and apartments have more than tripled from their original selling prices, reflecting the strong market interest in the development.
(Source: Marcopolis)
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