By John Lee.
Zawya reports that the Iraqi cabinet has asked the National Investment Commission (NIC) to go ahead with the huge Al-Rashid City project planned for Baghdad.
The $10-billion development is to be carried out by Dubai’s Emaar Properties and Abu Dhabi’s Eagle Hills, and will include the building of "up to" (sic) 64,000 new homes, has previously been estimated by Iraqi officials to have an investment value of about $10 billion.
Emaar Properties told Thomson Reuters that it will make appropriate disclosures when the agreements are finalised.
(Picture: Construction at Bismaya New City)