The latest housing news from Iraq – projects, construction & more – brought to you by Iraq Business News
By John Lee. Dr. Hamid Naim Al-Ghazi, the Secretary General of the Council of Ministers, has met with the company responsible for executing the Ur tourist city project to discuss progress. Emphasizing the city's potential as a global tourist attraction, the Secretary-General highlighted the planned facilities, including a theater, interfaith dialogue center, cultural center, museum, […]
By John Lee. The High Committee for the Development of Sadr City convened this week under the leadership of Prime Minister Mr. Mohammed S. Al-Sudani to discuss the practical steps needed to commence construction of the new city. During the meeting, the committee engaged in extensive discussions about the project's implementation mechanisms, requirements, and how […]
By John Lee. The Prime Minister of Iraq has stopped the granting of investment licenses for the Al Rafeel [Rafael] City project until inventory, inspection, survey, and land identification actions are completed. Al Rafeel City is planned to cover 10,600 acres close to Baghdad International Airport (BIAP). The Chairman of Iraq's National Investment Commission (NIC), […]
By John Lee. A new road map has been put in place for the continuation of work on the the giant Bismayah New City project on the outskirts of Baghdad. According to a statement from the National Investment Commission (NIC), South Korean company Hanwha is expected to sign a revised contract in the coming weeks, […]
By John Lee. Iraq's National Investment Commission (NIC) has issued a directive to all companies building residential complexes in Iraq to follow the official dollar exchange rate set by the Central Bank of Iraq (CBI), specifically 1,470 dinars per dollar. Mrs. Hanan Jassim, the official spokesperson, states that this directive is in accordance with Cabinet […]
By John Lee. South Korea's Hanwha Group is reported to be "cautious" about resuming the construction at the giant Bismayah New City housing project, southeast of Baghdad. The Korea Times quotes an official at the company as saying that if the Iraqi government completes payment of the money owed to Hanwha, the company, "may resume […]
The Head of the KRG's Board of Investment, Mohammad Shokri, has laid the groundwork for the provision of 892 residential units in Zakho administration with a budget of 48.8 billion dinars [$33.4 million]. The project comes after 2,073 people with limited income filled online applications to be eligible for the residential units in Zakho. This […]
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How can Iraq help 3.5 million citizens living in urban slums? The government and parliament in Iraq are working to address the slum housing crisis, facing obstacles and wide […]
By John Lee. South Korea's Hanwha Engineering & Construction has reportedly abandoned construction at the giant Bismayah New City housing project near Baghdad. According to Korea Economic Daily, the decision was made having failed to receive payments for years from the Iraqi government. It says the company expects losses of up to $581 million if […]
By John Lee. The Kurdistan Regional Government (KRG) has reportedly announced a housing project for the low-income Christian families in Ankawa, in northwest Erbil. According to Basnews, the announcement was made by Mohammed Shukri, the Chairman of the Kurdistan Board of Investment. The houses can be paid for over a 15-year period. (Source: Basnews)
By John Lee. The Chairwoman of the National Investment Commission (NIC), Suha Daoud Najjar, has said that the NIC has specified "a number of legal and financial conditions" to proceed with the development of the Bismaya Residential City southeast of Baghdad. She said the NIC is now waiting for a reply from South Korean firm […]
By Haider Ibrahim for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Mega projects do little to calm Iraq's housing crisis Despite several mega housing projects launched in Iraq, most notably the Al-Rafeel City project and Bismayah New City in Baghdad, […]
