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5 New Cities... Amazing Investment Opportunities Are Launching In Iraq
10/18/2023
1846
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10/18/2023
1846
[You must be registered and logged in to see this link.]
In an important step to enhance investment and provide new opportunities for investors in Iraq, Muthanna Al-Ghanimi, spokesman for the National Investment Authority, announced today, Wednesday, a project to establish five new cities that are considered distinctive investment opportunities in various regions of the country.
According to a statement by Al-Samarrai to Earth News Agency, “The step began with the formation of a special ministerial team in accordance with Cabinet Resolution (23121) for the year 2023 to discuss the issue of establishing new cities. Based on this framework, the National Investment Authority began taking the necessary legal, technical and administrative measures to launch this ambitious project.
These announcements were distinguished by providing standards of sustainability and smart infrastructure, in addition to precise engineering and technical specifications. The financial efficiency and similar business conditions that must be met by companies wishing to participate in this project have been identified.
These new cities were announced as investment opportunities at the beginning of last June. These cities were chosen in different regions of Iraq, including Baghdad Governorate, where the new city of Al-Jawahiri is located, Babil Governorate, where the new city of Al-Janain is located, Anbar Governorate, where the new city of Fallujah is located, Karbala Governorate, where the new city of Karbala is located, and finally Nineveh Governorate. Where the new city of Al-Ghazlani was identified.
After the announcement period, tender committees were opened to receive offers from companies and investors who expressed their interest in participating in these projects. After that, the offers were carefully analyzed.
The Council of Ministers announced its approval to delegate projects for four new residential cities to foreign and local companies with recognized experience in this field. These cities include various areas starting from 3,000 dunums and up to 7,712 dunums.
This new investment model is considered the first of its kind in Iraq, as it will include a percentage of free service housing units that will be provided by the state at a specific rate, and will be allocated according to specific priorities for specific segments of society.
The prices of residential units will be fixed, free from speculation and fluctuations in the markets, with the aim of relieving the burdens on citizens and providing affordable housing opportunities, according to Al-Ghanimi.
[You must be registered and logged in to see this link.]
According to a statement by Al-Samarrai to Earth News Agency, “The step began with the formation of a special ministerial team in accordance with Cabinet Resolution (23121) for the year 2023 to discuss the issue of establishing new cities. Based on this framework, the National Investment Authority began taking the necessary legal, technical and administrative measures to launch this ambitious project.
These announcements were distinguished by providing standards of sustainability and smart infrastructure, in addition to precise engineering and technical specifications. The financial efficiency and similar business conditions that must be met by companies wishing to participate in this project have been identified.
These new cities were announced as investment opportunities at the beginning of last June. These cities were chosen in different regions of Iraq, including Baghdad Governorate, where the new city of Al-Jawahiri is located, Babil Governorate, where the new city of Al-Janain is located, Anbar Governorate, where the new city of Fallujah is located, Karbala Governorate, where the new city of Karbala is located, and finally Nineveh Governorate. Where the new city of Al-Ghazlani was identified.
After the announcement period, tender committees were opened to receive offers from companies and investors who expressed their interest in participating in these projects. After that, the offers were carefully analyzed.
The Council of Ministers announced its approval to delegate projects for four new residential cities to foreign and local companies with recognized experience in this field. These cities include various areas starting from 3,000 dunums and up to 7,712 dunums.
This new investment model is considered the first of its kind in Iraq, as it will include a percentage of free service housing units that will be provided by the state at a specific rate, and will be allocated according to specific priorities for specific segments of society.
The prices of residential units will be fixed, free from speculation and fluctuations in the markets, with the aim of relieving the burdens on citizens and providing affordable housing opportunities, according to Al-Ghanimi.
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