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Economist: Four reasons behind the failure of the new administrative capital project in Bismayah
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Economy News-Baghdad
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Economy News-Baghdad
The economic expert, Mustafa Hantoush, explained the reasons for the failure of the administrative capital project in the Bismayah residential city.
Hantoush told "Economy News" that "the Bismayah residential city project will not continue because the low-cost construction method is only for the Korean executing company Hanawa, which announced its intention to withdraw, and if the state works to raise apartment prices, that will be a big problem for it."
He suggested that "the legislator will stop at only 30 thousand units of knife out of 100 thousand."
Hantouch explained that "the city of Basmaniye was planned to be the new administrative capital of Iraq in 2015, but the completion rate, which did not exceed 60% and stopped at 30% only, disrupted the project."
He added, "The number of residents in the city is very small compared to the number of housing units, and therefore the number of residents was not large as planned, and the project also included large economic facilities, but they were not implemented due to the company's lack of commitment."
The economic expert warned that "the new administrative capital project needs a state that cares about the interests of the citizen, while Iraq has a routine bureaucratic state."
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