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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Government action regarding high housing unit prices and amendment of the investment law

    Rocky
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    • Post n°1

    Government action regarding high housing unit prices and amendment of the investment law Empty Government action regarding high housing unit prices and amendment of the investment law

    Post by Rocky Wed 14 Sep 2022, 7:34 am

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    •  Today, 15:06




    Baghdad - conscious - Muhammad Al-Talib 
    Today, Wednesday, the National Investment Authority confirmed that it does not have a legal basis to impose prices for housing units on investors, and while it revealed a government movement to amend the investment law, it announced the imminent formation of a government committee to consider the lands granted during the past 20 years.
    The head of the Investment Authority, Suha al-Najjar, told the Iraqi News Agency (INA), that "the authority does not have a legal basis to impose prices on investors," noting that "residential projects in Baghdad are not affiliated with the authority, and therefore the authority of the authority cannot be imposed on it."
    Al-Najjar added, "When granting an investment license, investors are held accountable in terms of cost and prices, and when submitting a feasibility study at the price, it is fixed in the contract and a fine is placed on the contract in the event of an increase in prices, and in this way the executive way, prices are controlled," explaining that "the affiliated projects The National Investment Authority has few, in addition to previous investment projects that were not in accordance with a feasibility study, and they are the ones that raise the prices of housing units.”
    And she continued, "The authority is working to change the investment law," explaining that "a committee will be formed with the participation of the Ministry of Housing, the Ministry of State Resources and Finance and the Secretariat, to consider the lands granted during the past 20 years, as no government agency has the right to interfere with unit prices according to the current law."
    She stated, "The problem of unit prices is a result of corruption. Today, even the average citizen cannot buy a housing unit because of the high prices," stressing that "the authority is working to amend the investment law and expedite the implementation of a number of paragraphs, foremost of which is the mechanism for granting land, as it spoiled the investment process, as well as The facilities provided to the investor before implementation, which led to the conversion of the investment license into a brokerage operation.
    And she stressed, "After directing Prime Minister Mustafa Al-Kazemi in this regard, 200 projects were withdrawn, in addition to imposing delay fines that may reach 10 percent of the project's cost, as well as non-renewal of licenses."
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