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The Investment Authority launches ownership bonds for {Bismaya} apartments
The first 03/07/2024
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Baghdad: Al-Sabah
Yesterday, Wednesday, the National Investment Authority launched work on ownership bonds for apartments in the city of Bismayah (Tabu Bond), as the first investment complex for vertical housing in Iraq, granting bonds, while the Ministry of Construction and Housing revealed measures to reduce real estate prices.
The official in charge of the Bismayah follow-up office, Dhargham Al-Ali, said in a statement: “The Bismayah follow-up office located in (B2) has begun receiving citizens to complete the procedures for granting them the title deed by sending the transaction to the Real Estate Registration Department/Bismaya branch to open ownership data, which is located in entrance (A9).” .
He added, “The directives of the Chairman of the National Investment Authority, Haider Muhammad Makkiya, stipulated that the granting of the title deed would be sequential, as the authority began receiving citizens of (A1) Building (101) and with a review schedule for each floor in order to avoid the momentum of reviews.”
He continued, "Granting the title deed goes through legal procedures and according to the sorting of apartments done by the Ministry of Justice/Real Estate Registration Department."
Meanwhile, the Ministry of Construction and Housing revealed measures to reduce real estate prices, indicating that loans will be granted to citizens to purchase housing units in new projects.
Ministry spokesman Nabil Al-Saffar told “INA”: “The new residential cities, and according to the new company contract, which is happening for the first time in Iraq, a percentage of those complexes will be taken and distributed among societal groups,” indicating that “the cities referred for implementation vary from city to city.” To others, according to the number of housing units, geographical location, and population density of the governorates.
He pointed out that "the state will receive 25 percent of the lands served in Al-Jawahiri City, to be distributed among community groups, and in other cities the percentage ranges between 10-25 percent," pointing out that "there will be loans for citizens to purchase these housing units."
He continued, "The Ministry seeks to increase the construction of housing units, given that the increase will result in a decrease in real estate prices in Baghdad and the provinces."
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