New Real Estate Development Initiative in Iraq

By John Lee.

The first meeting of the Committee in charge of establishing the National Company for Real Estate Development has been held at the headquarters of the National Investment Commission (NIC).

The meeting was chaired by Suha Dawood Najar, Head of NIC, who said the new company will be "mixed sector", with 50-percent owned by the state, 25 percent by private sector investors, and the remaining 25 percent to be sold as shares to Iraqi citizens.

She added that the final goal is to develop the real estate sector all over Iraq, in addition to solving the housing crisis.

(Source: NIC)

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