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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    A foreign report: Building booms are changing the face of Baghdad, and corruption is fueling the ris

    Rocky
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    • Post n°1

    A foreign report: Building booms are changing the face of Baghdad, and corruption is fueling the ris Empty A foreign report: Building booms are changing the face of Baghdad, and corruption is fueling the ris

    Post by Rocky Sat 01 Jul 2023, 12:07 pm

    [size=52]A foreign report: Building booms are changing the face of Baghdad, and corruption is fueling the rise in real estate prices[/size]
    • Today 18:04




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    The information / translation ... 
    A report by the American newspaper Star and Stripe confirmed, on Saturday, that twenty years after the American invasion of Iraq and the conflicts that followed the occupation, the real estate boom has changed the face of the historic capital , where construction workers demolish old brick houses and clear squares dotted with palm trees to build smaller units that can sell for astronomical prices.
    The report, which was translated by the information agency, stated that "the price per square meter in a house that does not have running water or government electricity on the western bank of the Tigris River may reach $2,300, and in the Mansour area in the north, the average price per square meter can reach six times the aforementioned number.” . 
    He added, "It may seem that it is a profitable time for developers and real estate tycoons, which some politicians praise as a renewal and development for Baghdad, but on the other hand, it is a sign of deep-rooted corruption and widening inequality." in society.The vast majority of Iraqis are outside the possibilities of the large market, and for them it has become home ownership." Here a dream drifts apart each day, and parts of their city become unrecognizable.” 
    Raad Al-Shammari, a real estate broker in the city of Zainuna, said, "The amount of one million dollars can hardly buy anything here, just as the land is not for ordinary people, and this is certain of course," wondering, "Can our grandchildren buy a house for them in the future? This matter has become doubtful." In light of this outrageous increase in real estate prices. 
    The city of Baghdad is today home to more than 7 million people, with upscale neighborhoods dotted in the middle for the rich and out for the poor, and where builders toil atop the elegant tower blocks of walled compounds and the brick settlements of dusty suburbs. 
    And the report indicated that "the price of one square meter in the Karrada area amounts to 5 thousand dollars, while the real estate broker, Raad Al-Shammari, said that the houses in the city of Zayouna were designed on the basis of 600 square meters. meters for the house, but we see that they are dividing the land into smaller and smaller plots and building them as houses for commercial purposes, so that I found a house that does not exceed its area of ​​50 meters. 
    The report continued, "With the spread of corruption in the country, real estate has become one of the most attractive points for money, as high oil prices flood the Iraqi markets with cash, especially since the regulations on financial transactions limit the transfer of illegal wealth abroad.”
    "The prices are high partly because of money laundering and corruption," said Mohammed al-Rubaie, a spokesman for the Baghdad municipality. "When it becomes difficult for people to send their money out of the country, they put it in the property here."
    Observers say that "money arrives in bags, plastic bags, and even tubs of ice cream, and it is difficult to trace the paper trail, while real estate registration operations in the country are still ongoing, as data is not exchanged between government agencies, And in many cases, transactions are recorded in the names of relatives or partners, and this protects the real owners from scrutiny.” End/ 25 zd
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