By John Lee.
Prime Minister Mohammed Shiaa Al-Sudani presided over the signing of a memorandum of understanding between the National Investment Commission (NIC) and South Korea's Hanwha to resume work on Bismayah City residential development.
The visit on Monday morning included a meeting with residents, where their feedback on provided services was heard, prompting directives for follow-up. Al-Sudani also distributed housing unit sale bonds to new buyers.
During the signing ceremony, Al-Sudani emphasized the government's commitment to solving housing issues, particularly the significance of the promising residential project in addressing societal challenges. He highlighted the government's approval last November to complete 30,000 housing units in Bismayah, with the NIC tasked with securing funding for an additional 70,000 units.
Al-Sudani described the memorandum's signing as a crucial step, reflecting both parties' seriousness in project resumption and implementation. He affirmed the government's support for the project, targeting middle-income earners exclusively. Al-Sudani expressed appreciation for Hanwha's persistence in Iraq despite past sectarian violence and instability, suggesting potential future collaborations on other projects.
(Source: PMO)
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