By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi National Investment Commission (NIC) is facing major problems in marketing units in the largest residential project in the country, despite the growing housing crisis in the capital of Baghdad. […]
By John Lee. An MP and member of parliament's the Economic Committee has described the giant Basmaya [Bismayah] City housing project as "failed", and says "the National Investment Commission (NIC) will not be able to implement it." Azez al-Mayahi, of the Iraqiyya party, demanded that the NIC clarify that status of the project, according to […]
The National Investment Commission (NIC) has opened a center for the Bismayah New City project at the Baghdad International Fair. It will receive citizens registered and wishing to register for housing units in the project for the three sizes of housing unit: 100 m², 120 m², and 140 m². NIC Chairman, Dr. Sami Raouf al-Araji […]
According to a report from Bloomberg, Iraq has signed the contract with South Korea’s Hanwha Engineering & Construction to build 100,000 residential units in Baghdad. Salah Abdul Razzaq, Baghdad’s governor, said more than 30,000 people are registered for the units so far, adding that the project will secure 100,000 jobs. Previous reports put the value […]
Iraq's minister for construction and housing plans to spend $9.8 billion on roads, bridges and housing between now and the end of 2016, reports Bloomberg. Mohammad Saheb al-Darraji (pictured) said the country is budgeting $5.8 billion for roads and bridges and $4 billion for housing. The current annual budget is $112 billion. The country needs 2.5 […]
Sami al-Araji, chairman of Iraq’s National Investment Commission (NIC), has told Bloomberg that Iraq will soon sign a $7 billion agreement with South Korea’s Hanwha Engineering & Construction Corporation [Hanwah] to build 100,000 housing units in the country. The commission is also due to sign a contract with the UAE-based Bloom Properties to build 40,000 […]
Iraq's National Investment Commission (NIC) has announced that it has finalised the fundamental designs for the project to build 100,000 housing units in Bismaya. The units are to be built on a site of 8,000 donums (2,000 hectares), and will accommodate 500- 600,000 Iraqi citizens. NIC Chairman, Dr. Sami al-Araji, said in a press conference […]
A South Korean firm said on Saturday that it will build a 100,000-unit housing development south of Baghdad, according to a report from AKnews. At the end of a visit to South Korea in April, Prime Minister Nouri al-Maliki signed a number of contracts in the areas of economy, construction and energy. A group of […]
The Iraqi National Investment Commission (NIC) signed a $7.25 billion deal to build one hundred thousand housing units as a complete neighborhood East of Baghdad. The signing ceremony with Hanwha Engineering & Construction, one of the largest engineering and construction companies in South Korea, took place at the Iraqi Prime Minister's Office Nouri Al-Maliki this […]
