The latest housing news from Iraq – projects, construction & more – brought to you by Iraq Business News
The Basra Investment Commission announced that it has received an offer to build 5,280 housing units in the “New Basra” City at a cost of $939 million [1100 billion Iraqi dinars]. The offer came from the al-Saqr al-Jareh [al-Saqar al-Jareh] company, whose director general, Sarah Hameed Meran, said, "The project plan includes the construction of […]
Iraqi minister for reconstruction and housing said throughout 2011 some seven housing projects will be constructed in seven Iraqi provinces. AKnews reports that the flats will be allocated to 12,600 families in installments. Mohammed Daraji told AKnews on Thursday that the Iraqi Prime Minister Nouri al-Maliki has ordered the creation of the units in Kirkuk, […]
According to a report from Azzaman, the Province of Najaf is to build 10,000 flats to house school teachers as part of a new policy to upgrade education in schools across the province. Governor Adnan al-Zarqai said his local administration has decided to place more emphasis on developing all aspects of education in the province. […]
The Sunni Endowment, during its 1st investment conference, offered opportunities on Saturday to build 100,000 housing units all over Iraqi provinces, on lands it owns, within a three-year period, according to a report from Aswat al-Iraq. “The Endowment has already obtained a go-ahead from the Iraqi National Investment Commission (NIC) to build these units as […]
Iraq’s Mortgage Bank has decided to raise the personal credit, granted for any citizen planning to build a house, to 60 million Iraqi dinars [$53,000], the Bank’s Director-General, Hussein Ahmed Tu’ma, said on Wednesday. He said that the minimum total area of each patch of land would be decreased to 90 square meters from 100 […]
Bloomberg reports that Iraq will sign a contract with Arab investors next month for a $15 billion [18 trillion Iraqi dinars] housing project . One investor from the United Arab Emirates and another group of companies from the U.A.E. and Kuwait are the finalists in the bidding process, Saber al-Issawi, the governor of Baghdad, said […]
By Tariq Abdell, Iraq’s political risk analyst, and Founder & CEO of Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. In light of ongoing socio-political changes in MENA region, Iraq's massive protests, from Zakho to al-Faw, accentuate the political astuteness and […]
The head of Nineveh Investment Commission has said that a German company plans to develop German-style housing complexes in Mosul, 405 km north of Baghdad. Muafaq Mahmud told AKnews that the German company Markina signed an investment contract with the investment board in Mosul and work is scheduled to begin on the housing complexes in […]
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 […]
