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By John Lee.

Iraqi Prime Minister Mohammed Shiaa Al-Sudani has laid the foundation stone for the Baghdad International Hospital, to be developed by Apex Health, a subsidiary of Qatar's Estithmar Holding [Qatari Investment Holding Company].

Al-Sudani welcomed the Qatari delegation and praised the project as a new chapter in bilateral cooperation, recalling the visit of the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, who announced a package of investments worth between $5 billion and $7 billion (approx. €4.6-€6.4 billion) across multiple sectors.

He emphasised his government's commitment to creating a business-friendly environment by reducing bureaucracy, amending outdated investment laws, and implementing supportive regulations.

Key points from the Prime Minister's remarks included:

• Iraq has opened its doors to reputable international companies, including Qatari Investment Holding.
• The government has taken measures to support the private sector and attract investments exceeding $102 billion (approx. €93 billion).
• Despite regional instability, Iraq continues to pursue an investment-driven growth strategy.
• The Development Road project presents significant opportunities for global investors.
• The health sector remains a top priority, with progress seen through the implementation of the Health Insurance Law and partnerships with US and UK pharmaceutical companies.
• The government is supporting local drug manufacturers, upgrading hospitals, and introducing modern management models through joint operations with renowned medical institutions.

(Source: PMO)

By John Lee.

Apex Health, a subsidiary of Qatar's Estithmar Holding, has announced that it has obtained an investment licence from Iraq's National Investment Commission (NIC) to develop a 400-bed private hospital in Baghdad's Al-Zaafaraniyah district (formerly Al-Rashid Camp).

The new facility, to be named Baghdad International Hospital, will be built on a 100,000-square-metre riverside site overlooking the Tigris. It will include 400 beds, 16 ICU beds, 12 operating rooms, and 80 outpatient clinics, and is expected to handle more than 600,000 outpatient visits and over 100,000 inpatient admissions annually.

According to a press release from the company, the hospital will provide advanced medical and surgical services, including open-heart, orthopedic oncology, plastic, neurosurgery, pediatric surgery, and transplant programmes (liver, bone marrow, and stem cell). It will also offer dialysis, neonatal care, and a full continuum of inpatient and outpatient services.

Apex Health is already active in Iraq, managing Al Nasiriya Teaching Hospital in Dhi Qar and Al Imam Al Hassan Mujtaba Teaching Hospital in Karbala. CEO Joseph Hazel said the new project demonstrates the company's confidence in the Iraqi market and commitment to supporting healthcare transformation in the country.

Estithmar Holding CEO Juan Leon added that the development aligns with the group's international growth strategy and will deliver added value to shareholders.

(Source: Estithmar Holding)

By John Lee.

Qatar's Elegancia Healthcare, a subsidiary of Estithmar Holding, has entered into a second strategic agreement with the Iraqi Ministry of Health to manage and operate the 492-bed Al Hasan Al Mujtaba Teaching Hospital in Karbala Governorate.

The hospital is one of six for which the Iraqi Ministry of Health invited interested parties to pre-qualify in August 2023.

This agreement is the second of its kind for Elegancia Healthcare in Iraq, with an agreement signed to operate Al Nasiriya Teaching Hospital in Dhi Qar Governorate earlier this month.

The latest agreement was signed by Dr. Sabah Noor Al-Musawi, Director General of Karbala Health and Eng. Mohammed bin Bader Al-Sadah, in his capacity as Group CEO of Estithmar Holding.

On this occasion, Eng. Mohammed bin Bader Al-Sadah, Group CEO of Estithmar Holding, commented on Elegancia Healthcare's expansion in Iraq, stating:

"This initiative is in line with Estithmar Holding's efforts to expand its business and projects in Iraq and is an addition to the recent signed agreement with Dhi Qaar Governorate.  We are particularly pleased to move forward with this strategic partnership, which aims to develop and upgrade the health sector in the Republic of Iraq, as we take pride in our numerous collaborations with the Iraqi Ministry of Health.

"Elegancia Healthcare ... is committed to enhancing and expanding its business portfolio. This initiative aims to foster growth opportunities and enhance shareholder value."

From his side Mr. Joseph Hazel, CEO of Elegancia Healthcare, said:

"These agreements seek to enhance and elevate the quality of healthcare services offered by both Al Hasan Al Mujtaba Teaching Hospital and Al-Nasiriyah Teaching Hospital. This includes improving operational efficiency, expanding medical specialties, and implementing the latest administrative and operational strategies, while leveraging Elegancia Healthcare's extensive expertise in managing and operating healthcare facilities."

This project includes comprehensive surgical treatment facilities for in-patient hospitalization, as well as a significant number of outpatient clinics offering various specialties. These clinics cater to consultations and treatments such as dialysis, physiotherapy, among others. Al Nasiriyah Teaching Hospital project also includes nineteen medical departments.

(Source: Estithmar Holding)

By John Lee.

Iraq's Ministry of Health has signed a contract with Qatar's Elegancia Healthcare, a subsidiary of Estithmar Holding, to manage, operate, and maintain a 492-bed hospital in Nasiriyah, in Dhi Qar province.

The signing ceremony was attended by the Qatari Ambassador to Iraq, Sultan bin Mubarak Al-Kubaisi, the Director-General of Health in Thi Qar, Dr. Rashid Najm Al-Khalidi, the authorized director of the Qatari company, Mr. Mohammed Al-Dawamneh, and several general directors from the Ministry of Health.

During a press conference following the contract signing, the Minister of Health stated that this initiative is in line with the priorities of the government's healthcare program and the Modern Hospital Management Program for new hospitals.

He emphasized that the program includes managing, operating, maintaining, and training Iraqi personnel in various specialties at the hospital. Additionally, it involves bringing in doctors in rare specialties to train Iraqi staff. Dr. Al-Hasnawi mentioned that the ministry has so far signed three contracts for hospital management with specialized companies under the Modern Management Program, in addition to a plan to operate modern hospitals expected to open in Baghdad during the current year.

The Qatari ambassador expressed confidence in the extensive cooperation with the Iraqi Ministry of Health through the signed contract. He highlighted the ministry's commitment to ensuring the provision of the best healthcare service to citizens and confirmed that the company will utilize its expertise in managing Nasiriyah Hospital in Thi Qar.

(Source: Ministry of Health)

By John Lee.

Qatar has appointed a new Consul General in Erbil.

The Head of the Protocol Department at the Ministry of Foreign Affairs, Ammar Dawood, received the consular credentials of HE Hussein bin Ali Al Fadala on Tuesday.

The Qatari Investment Holding Company [Estithmar Holding] has recently announced investments in Iraq.

(Source: Qatari Ministry of Foreign Affairs)

By John Lee.

The Prime Minister of Iraq, Mr. Mohammed Shia Al-Sudani, has laid the foundation stone for a large tourism complex in Baghdad.

The project includes a large hotel, a residential complex, and various tourism facilities.

The Qatari Investment Holding Company [Estithmar Holding] is leading the project, which marks Qatar's first investment venture in Iraq, according to a statement from the Prime Minister.

During the inauguration ceremony, the Prime Minister expressed his gratitude to the Qatari delegation for their collaboration and the efficient processing of land allocation and investment licenses. He highlighted the following points in his speech:

• The project symbolizes a developmental tourism service in Baghdad, which remains a global focal point across multiple domains.
• Baghdad stands as a hub for commercial, cultural, intellectual, political, and economic activities.
• Diverse projects encompassing infrastructure, services, and residential sectors are being undertaken.
• The substantial cooperation between Iraq and Qatar began during the visit of Sheikh Tamim bin Hamad Al Thani, the Amir of Qatar, to Baghdad.
• The Qatari Holding Investment Company's project will be an architectural landmark that harmonizes with Baghdad's identity, drawing inspiration from history and heritage.
• The government views Arab investment as a gateway to economic integration and emphasizes economic partnerships with Arab and regional countries.
• Iraq offers numerous promising opportunities, with the government extending support and facilitation to serious companies.
• Investment support will extend to projects in Baghdad, provinces, and the Kurdistan region.
• Iraq's economy possesses robust potential and resources, guided by a clear vision.

The Prime Minister concluded by stating that these projects complement the strategic development plan, establishing integrated projects aligned with this vital initiative, which is one of the region's key economic corridors.

(Source: Media Office of the Prime Minister)

By John Lee.

Qatar's Estithmar Holding Q.P.S.C. has announced that its subsidiary, Elegancia Healthcare W.L.L., has established a branch in Iraq in line with the memorandum of understanding that was signed recently with the aim of managing and operating several hospitals that will start soon in Iraq.

Estithmar also announces that it's subsidiary, Elegancia Marine W.L.L., has established a  branch in Iraq.

According to a statement from Estithmar, "this implements Estithmar Holding's strategy to signify its commitment to the global expansion to increase shareholder value, within the framework of the close strategic relations between the two countries."

(Source: Estithmar Holding)

By John Lee.

Prime Minister Mohammed Shia Al-Sudani reviewed initial plans and overall outlines for a large tourist complex in central Baghdad on Sunday.

The project proposal was submitted by the Qatari Investment Holding Company [Estithmar Holding], specialized in real estate development and investment in tourist destinations. Pictures provided by the Media Office of the Prime Minister also show branding from Turkiye's Rixos Hotel group.

During the review, Prime Minister Al-Sudani emphasized the government's commitment to creating an ideal investment environment in Iraq to attract capital. The aim is to bolster the Iraqi economy's openness to the global market, which in turn is expected to create employment opportunities and stimulate development.

In a previous session held on August 1, the Cabinet approved the project's continuation. The complex will feature a cutting-edge hotel, international restaurants, ceremonial halls for local and international events, as well as vertical residential units.

These designs will draw inspiration from Mesopotamian history and culture, covering an area of 19 acres. The complex is set to open its doors before the year 2025.

(Source: Media Office of the Prime Minister)

By John Lee.

Further details have been announced regarding Qatar's major investment in Iraq.

Estithmar Holding Q.P.S.C. has said in a statement that it has signed three MoUs with Iraq's National Investment Commission (NIC) with a total value of 7 billion US dollars to develop new modern comprehensive cities, 5 stars hotels and also manage and operate several hospitals in Iraq.

MoU's were signed by Dr. Haider Muhammad Makiya, Chairman of the NIC, and Mr. Ramez Al-Khayyat, Vice Chairman of Estithmar Holding.

The first MoU outlines the development of two modern cities encompassing various sectors such as commercial, residential, and entertainment. These cities will be constructed in adherence to the highest international standards, aiming to foster sustainable economic development and promote investment opportunities in Iraq. The objective is to support the country's sustainable economic growth and attract investments.

Mr. Al-Khayyat said the housing shortage in Iraq is estimated at two million units, adding that these new cities will include residential complexes, villas, schools, commercial complexes, entertainment centers, as well as other essential facilities and services. The necessary infrastructure will also be established to support the construction of these cities.

The second MoU focuses on the development of luxury hotels and resorts to bolster the Iraqi economy and promote domestic and international tourism. It also aims to provide innovative solutions to overcome challenges faced by the hospitality sector while addressing a portion of the shortfall of 10,000 hotel rooms in the Iraqi tourism market.

The third MoU involves Elegancia Healthcare W.L.L., a subsidiary of Estithmar Holding, which will undertake the management and operation of multiple hospitals in Iraq. This initiative underscores Estithmar Holding's commitment to its global expansion strategy and the provision of world-class medical services to communities worldwide.

It is anticipated that Estithmar will commence the implementation of these projects by the end of this year.

Furthermore, Mr. Al-Khayyat emphasized the significance of the robust and strategic relations between Qatar and Iraq, highlighting their potential to contribute to the social and economic development of Iraq. He also acknowledged the favorable investment environment in Iraq, which presents various opportunities across multiple sectors.

(Source: Estithmar Holding)

By John Lee.

Iraq and Qatar have solidified their bilateral relations through the signing of several agreements and memorandums of cooperation.

Prime Minister Mohamed Shia Al-Sudani and the Emir of Qatar oversaw the signing ceremony, emphasizing comprehensive cooperation in politics, economy, energy, and investment.

A joint declaration of intent was signed, paving the way for collaboration between the two governments in various sectors.

Agreements were reached in the fields of air and maritime transport, aiming to enhance connectivity between the two nations. Additionally, a memorandum of understanding was established to waive visa requirements for holders of diplomatic passports.

Furthermore, a series of energy-related memorandums of cooperation were signed during the visit. These encompassed crude oil and liquefied gas supply to Iraq, as well as the establishment of a joint oil company and a new refinery.

In terms of investment, four memorandums of cooperation were inked with prominent Qatari entities. Iraq's National Investment Commission (NIC) entered into agreements with Qatar's Urbacon Holding Company (UCC Holding) [a subsidiary of Power International Holding (PIH)] and Elegancia Healthcare, a subsidiary to Estithmar Holding. Another two memorandums were signed with the Qatari Investment Holding Company, focusing on the development of new cities and the construction and enhancement of hotels.

According to Oil & Gas Middle East, the Urbacon agreement is a 25-year public-private partnership to build two power plants. It will involve an investment of $2.5 billion and have a combined capacity of 2.4 GW.

(Sources: Media Office of the Prime Minister, Oil & Gas Middle East)