Iraq's most expensive real estate among the countries of the region with the exacerbation of slums a

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[size=52]Iraq's most expensive real estate among the countries of the region with the exacerbation of slums and abuses[/size]

[size=45]Translation: Hamed Ahmed[/size]
[size=45]A report stated that real estate in Iraq is the most expensive in the countries of the region, while talking about the aggravation of the housing crisis and the large spread of slums and abuses on state property. Soft loans, while a parliamentary committee accused the government of failing to implement the (Dari) initiative.[/size]
[size=45]A report by Al-Monitor, translated by Al-Mada, stated: “The lack of affordable housing is one of Iraq’s most complex crises.”[/size]
[size=45]He added, "This comes in conjunction with the country's suffering from a severe shortage and deficit in housing units, estimated at 3.5 million housing units, according to the statistics of the Ministry of Construction, Housing, Municipalities and Public Works."[/size]
[size=45]He pointed out that "multiple factors included an increase in the population, migration from the countryside to the city, the lack of financial and natural resources, crises and battles that lasted for more than four decades."[/size]
[size=45]The report spoke of "the impact of the consequences of the terrorist organization's invasion of large areas of the country and the destruction of homes, infrastructure and public facilities."[/size]
[size=45]He stressed, "All these factors contributed to the aggravation of the housing crisis and increased the percentage of homeless and slums in cities and their suburbs." And the report stated, "The Ministry of Planning estimates for 2019 showed that Iraq contains approximately 3,700 slums or informal housing gatherings, in which approximately 3 million people live." He stressed that "poor and slum residential neighborhoods that vary in the way they are built are spread in several regions of the country." The report pointed out that “there are houses built of mud in some areas and others of cement stones built on state lands, and even abandoned lands owned by other people.”[/size]
[size=45]And he added, "Some of these residents have turned military bases, facilities and buildings belonging to the former regime's army and security services into homes and residential complexes."[/size]
[size=45]The report stated, "The capital, Baghdad, includes the largest number of slums, with about 1,000 slums, followed by Basra, with about 700 slums."[/size]
[size=45]And he added, "The estimates of the United Nations Population Settlements Program showed that Iraq's cities house nearly 70% of the country's population and that the population is increasing rapidly."[/size]
[size=45]The report stated, “The program indicated that a large number of people, especially the poor, live in low-level homes and slums, suffering from a lack of public services with collateral damage caused by polluted water sources, air pollution and climate change.”[/size]
[size=45]He stressed, "Iraq has been affected by political crises, conflicts and wars that spanned for more than 40 years. The country is still suffering from the consequences of the war with ISIS and the resulting destruction of homes, infrastructure and public facilities.”[/size]
[size=45]And the report indicated, "The Iraqi government is now trying to find solutions to the crisis by launching several housing projects."[/size]
[size=45]The head of the National Investment Commission, Suha Al-Najjar, said, "Last year witnessed the granting of licenses to 130 residential investment projects, and work has begun on many of the registered projects."[/size]
[size=45]The report promised, "The Basmaya housing project is one of the huge housing projects in Iraq, which was implemented by a South Korean company, and it contains 100,000 housing units."[/size]
[size=45]He continued, "The Iraqi government launched in July 2021 the (Dari) initiative for housing, which targets a wide class of social strata, including the families of martyrs and citizens who did not previously receive their share of land distribution."[/size]
[size=45]The report noted, "the launch of an electronic platform in this regard to apply for housing lands in all governorates, except for the Kurdistan region, which numbered 550 thousand housing units."[/size]
[size=45]For his part, a member of the Parliamentary Services and Reconstruction Committee, Hammam Al-Tamimi, accused the government of failing to implement the Dari Initiative on the ground.[/size]
[size=45]However, the Prime Minister’s Advisor for Construction and Investment Affairs, Sabah Abdul Latif, said that “the distribution of plots of land for the (Dari) residential initiative will be officially implemented soon and in the presence of the Prime Minister, in addition to the distribution of 330,000 housing plots as part of other projects.”[/size]
[size=45]The report stated: "This initiative is the second largest housing initiative after the Bismayah housing project since 2003." He continues, that "other projects announced by the government in an effort to address the housing crisis are the Rafael City project, where an area of ​​106 dunums surrounding the Baghdad International Airport area has been allocated for investment."[/size]
[size=45]Al-Najjar, head of the Investment Authority, said in a press statement that "the city will be built in four phases. The first phase will include the construction of approximately 75,000 homes, accommodating approximately 300,000 people, in addition to shops, hospitals, schools and recreational facilities."[/size]
[size=45]Al-Najjar added, "This project will have a positive impact on the economy, especially as it will provide housing for nearly one million people and open the way for more than 100,000 job opportunities."[/size]
[size=45]In June 2021, the government announced an initiative to buy and build homes through interest-free loans.[/size]
[size=45]A spokesman for the Council of Ministers, Hassan Nazim, said that "the Central Bank of Iraq took the initiative to finance the Real Estate Bank and the Housing Fund with more than 1.8 trillion Iraqi dinars (1.2 billion dollars)."[/size]
[size=45]Nazim continued, "The initiative will provide interest-free loans to citizens to buy or build housing units. Citizens will repay the loan over a period of 20 years, and it will be an incentive for them to buy housing units.” The report emphasized that "the housing crisis in Iraq has greatly exacerbated as a result of the continuous rise in real property prices."[/size]
[size=45]The report went on, "Observers believe that many of these residential properties are more expensive than residential properties located in the cities of stable neighboring countries, including Istanbul, Tehran and Amman."[/size]
[size=45]About: Al-Monitor[/size]
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