The latest housing news from Iraq – projects, construction & more – brought to you by Iraq Business News
Two local governments started construction on more than 500 housing units to the west of the city of Diwaniya. Total investment in the scheme is said to be $84 million, according to Aswat al-Iraq. Ahmed Hashim, acting head of the Investment Commission, told the agency that the sites of the projects were handed over to […]
The Ministry of Construction and Housing announced on Thursday that it has begun an affordable housing project which has an allocation of $2 billion (2,300 billion IQD) from the 2012 budget. Istabrak al-Shawq [Istabraq Al-Shouk] (pictured), the Under Secretary of the Ministry, told AKnews that the project will be completed within four years and three […]
The National Investment Commission (NIC) has announced the investment opportunity to construct a complete residential complex for the employees of the Shiite Endowments Directorate in Baghdad - Karrada district within a total area of (60) acres in accordance with the Investment law No. 13 of 2006 as amended and according to the requirements set out […]
AKnews reports that officials in Kirkuk have laid the cornerstone of a 600-unit housing complex worth 16.5 billion Iraqi Dinars (about US$13 million). The project, undertaken by a local Iraqi company, is funded by the province’s petrodollar money. Kirkuk is one of the richest provinces in the country after Basra, which exports the majority of […]
The plan is that every Iraqi will get a home, but, unfortunately, the vast amounts of money needed might be hard to find. Iraq Directory reports that prime minister Nouri al-Maliki has promised a "home for every citizen" in five years, with those who have no homes getting them at cost price. However, with the […]
In Iraqi Kurdistan, locals are enjoying a property boom. As demand outstrips supply, buying off-the-plan is more popular. But if this housing bubble bursts, the region could face severe economic and political consequences, according to this article from Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of […]
Basra Council has signed the contract for the construction of 12,000 housing units in the Shatt al-Arab district. The local government allocated 1,600 acres to the project, which is expected to be started within the month and completed within two years. It is to be carried out by a UAE-based company named Kika (?). The […]
The deputy chairman of Wassit provincial council, Mehdi al-Mussawi, told Aswat al-Iraq that it has signed a memorandum of understanding (MOU) with an Iranian company to build a 500-megawatt power station on a deferred payment basis, in addition to a 400-bed hospital and 5000 flats housing complex. The MOU, which the approval of the electricity […]
The Claremont Group has expanded its international development operations into the rapidly growing commercial and residential real estate market in the Kurdistan region of northern Iraq. The New York-based real estate firm has launched construction on a major modern residential community in the region's capital of Erbil, Iraq's most secure and fastest-growing city. The Atlantic, […]
The Iraqi government has decided to allocate $21 billion USD (25 trillion IQD) to implement the Rashid Housing project. AKnews reports that the preliminary negotiations with the UAE-based contractor, Maabar, are completed, and the final contract will be signed by the end of 2011. Rashid Barracks in Baghdad were used by the former Iraqi army […]
Abu Dhabi-based developer Al Maabar has said a $10bn deal that was announced three years ago to build thousands of homes in Iraq has not yet been finalised, The National has reported. "When you have [a] big deal like that, you need to make sure all the terms and conditions are in place," said Al […]
In conjunction with the Shiite Endowments Authority, the National Investment Commission (NIC) has announced an investment opportunity to construct a housing complex in Baghdad on the lot numbered 16/207 M4 - Kerada (total area of 60 donums). Investment license applications can be found on the One Stop Shop page of the NIC's website. Applications should […]
