The latest housing news from Iraq – projects, construction & more – brought to you by Iraq Business News
The urgent need for housing in Iraq is clear for all to see, with one government estimate putting the demand as high as 2.5 million new units by 2015, but who are the people who will supply that demand? Iraq Business News recently had the pleasure of interviewing one of the main players in Iraq's […]
The Najaf Investment Commission approved 17 investment licences to build a total of 19,000 houses in Najaf at a cost of $1.9 billion, according to the chairman of the commission, Wafi al-Bahash. Aswat al-Iraq reports that the Commission has recently approved more than 125 licenses in all fields, including 17 to Iraqi and foreign companies […]
On Thursday, Salah al-Din’s [Salahadin] deputy governor laid the foundation stone for the largest housing compound in the city of Tikrit. Valued at about $238 million [286 trillion Iraqi dinars], the project is being built by a Jordanian company, an official said. “Ahmed Abduljabbar al-Kareem laid the foundation stone for the project in the area […]
FiberPro Group, a Dubai-based contracting company with operations in the UAE, Cyprus and Greece, has clinched a multi-billion deal for the construction of 30,000 houses in Iraq. According to the report from the Financial Mirror, the Cypriot owners of the company, its Managing Director Fotis Athanassiou, and businessman Demetris Takoushis of Larnaca, are currently in […]
Works are underway to build a 640-unit housing project in the Shatt al-Arab district at a total cost of 58 billion Iraqi dinars [$50m], according to a local source in Basra on Thursday. “The project envisages 640 housing units, on an area of 56 donums [14 hectares], and would take two and half years to […]
The number of reconstruction and housing projects undertaken by the Kurdistan Regional Government (KRG) rose by 24 in 2010, with a value increased by $83m. According to the KRG Ministry of Reconstruction and Housing, in 2010 some 368 projects were completed in the three provinces. The overall value of the projects funded by the ministry […]
AKnews reports that the Egyptian Housing Ministry is to contribute to the Iraqi government's plan to build a million housing units in Iraq. The General Director of the Technical Department of the Iraqi Housing and Construction Ministry, Hussein Majid Hussein, said on Thursday that the Iraqi Ministry signed a contract with the Egyptian Housing Ministry […]
Aswat al-Iraq reports that projects financed by a US$90 million credit line from the World Bank have been implemented in Iraq. The projects include the construction of several roads in southern Iraq’s Wassit and Najaf Provinces, construction and rehabilitation of 10 main roads and 4 bridges in western Iraq’s Babel and southern Iraq’s Muthanna provinces. […]
A Korean delegation represented by the chairmen of companies specializing in the construction of housing units visited Baghdad within the framework of the NIC (National Investment Commission) One Million Housing Unit project. NIC Chairman, Dr. Sami Al- Araji, stressed the Koreans seriousness in implementing the One Million Housing Unit project, saying that the NIC had […]
Azzaman reports that the Iraqi government has earmarked $10 billion for the redevelopment of the low-income township, Sadr City, in Baghdad. The project, which will take 10 years to be completed is one of the largest housing schemes in the Middle East, according to Baghdad Mayor Saber al-Aysawi. Aysawi said the huge project will solve […]
An Iraqi company has won an investment license to build a residential compound in Muthanna, an official of the Muthanna Investment Commission said on Wednesday. “The MIC has granted an investment license to an Iraqi company to build a compound, consisting of 792 apartments, in Muthanna on an area of 65 donums [16 hectares]”, Ali […]
Iraq’s housing fund is falling short of its goals and will struggle to raise fresh capital after spending more than two-thirds of its budget, its director said in an interview with Bloomberg. The fund, which started in 2005 with 300 billion Iraqi dinars ($257 million), has spent 210 billion dinars building 14,000 homes in Iraq, […]
