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Investment: Delivery of more than 9,400 housing units in Bismaya to those registered
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Baghdad Today - Baghdad
Today, Thursday (October 5, 2023), the National Investment Authority announced the delivery of ready-made housing units in the Bismayah Residential Complex to citizens, amounting to (9,480) housing units.
The head of the authority, Haider Makiya, said in a statement received by “Baghdad Today” that he “directed the delivery of the ready-made units after completing their procedures with the Korean (Hanwha) company very soon and the previously registered ones, which will be delivered successively from the company and according to an agreed upon timetable.”
M explained, “Work is underway to complete the procedures with the Korean Hanwha Engineering and Construction Company to deliver the ready-made housing units to the citizens who are duly registered with them, and the company will resume its work to implement all the housing units of the project, estimated at (70) thousand units.”
Makiya pointed out that he "directed the allocation of a building for the Rafidain Bank branch within the Bismaya residential complex to facilitate procedures for paying housing unit installments by citizens registered for the units."
He pointed out, "The Authority renewed its confirmation of continuing its sponsorship of strategic projects, including the Bismayah Residential City Project, due to the safe housing service it provides and a model for the promising projects that most of Iraq's governorates will witness through the establishment of new cities in Baghdad, Holy Karbala, Babylon, Anbar, Nineveh, and other governorates to address the housing crisis."
It is noteworthy that in September 2011, the Iraqi Investment Authority opened registration for the complex, after it contracted with the South Korean company Hanwha to build 100,000 housing units in the Bismayah residential complex, after it received about 4.3 billion dollars from Iraq from 2012 to 2012. 2017, and this amount is equal to 43 percent of the project value of 12 billion and 120 million dollars, according to the contract signed between the two parties.
Progress in completing the construction of the complex, which is the largest residential city in Iraq, located southeast of Baghdad, faltered due to financial disputes and the Iraqi government’s failure to fulfill the rights of the “Hanhua” company implementing the project.
Although the past two years and this year witnessed dozens of meetings between the company and the National Investment Authority in Baghdad, not all of the meetings reached results that required the company to return to work to complete about 60 percent of the project, which is what remains of it.
Source: Baghdad Today
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