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Investment Commission: 10 new residential cities in Iraq soon
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Economy News - Baghdad
The official spokesman for the National Investment Commission, Dr. Muthanna Al-Ghanmi, reviewed the details of the new residential cities, indicating that the launch of investment opportunities for the new residential cities came after the Iraqi government decided to offer them for investment, solve all problems related to land ownership, and start referring them to companies that will present the best bids and offers.
Al-Ghanimi revealed that these five cities are the first stage, and that the coming weeks will witness the presentation of new investment opportunities for approximately 10 other new residential cities, after completing the procedures for counting and sorting lands and resolving property disputes between the Ministries of Finance and Municipalities and the Capital Secretariat.
And he stressed that "all residential cities will include horizontal and vertical housing units, with a total of about 240 thousand housing units, as the capacity of the new city of Al-Jawahiri in Baghdad is 29 thousand housing units on an area of more than 7 thousand acres, while the capacity of the new city of Karbala is more than 46,000 housing units on an area of more than 8,900 acres.
Al-Ghanimi added that the new city of Fallujah will include more than 91,000 housing units on an area of 34,000 dunums, while the absorptive capacity of the new city of Ghazlani in Nineveh Governorate is 46,000 housing units on an area of 4,700 dunums, while the number of housing units in the city of Al-Janain in Babil Governorate For more than 25,000 housing units on an area of 8,000 acres.
Regarding the companies that will implement these cities, Al-Ghanimi said, "All these cities will be built through investment, and the period for submitting investment applications is one month, after which the National Investment Commission begins to open and analyze bids, and then refer them to sober companies and serious investors who have previous similar works, with the submission of Feasibility studies and detailed engineering plans.
The new residential cities will include important details, according to Al-Ghanmi, as the investment companies will grant the government a percentage of ownership between 10% and 25% of the total housing units that will be included. Determining the price of the housing units as a whole, he said.
Al-Ghanmi explained that the implementation period will depend on the bids submitted, but the government is keen to choose the best companies that will ensure the speed of implementation and the construction of all infrastructure for all new cities.
Views 115
Added 06/13/2023 - 11:22 AM
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Economy News - Baghdad
The official spokesman for the National Investment Commission, Dr. Muthanna Al-Ghanmi, reviewed the details of the new residential cities, indicating that the launch of investment opportunities for the new residential cities came after the Iraqi government decided to offer them for investment, solve all problems related to land ownership, and start referring them to companies that will present the best bids and offers.
Al-Ghanimi revealed that these five cities are the first stage, and that the coming weeks will witness the presentation of new investment opportunities for approximately 10 other new residential cities, after completing the procedures for counting and sorting lands and resolving property disputes between the Ministries of Finance and Municipalities and the Capital Secretariat.
And he stressed that "all residential cities will include horizontal and vertical housing units, with a total of about 240 thousand housing units, as the capacity of the new city of Al-Jawahiri in Baghdad is 29 thousand housing units on an area of more than 7 thousand acres, while the capacity of the new city of Karbala is more than 46,000 housing units on an area of more than 8,900 acres.
Al-Ghanimi added that the new city of Fallujah will include more than 91,000 housing units on an area of 34,000 dunums, while the absorptive capacity of the new city of Ghazlani in Nineveh Governorate is 46,000 housing units on an area of 4,700 dunums, while the number of housing units in the city of Al-Janain in Babil Governorate For more than 25,000 housing units on an area of 8,000 acres.
Regarding the companies that will implement these cities, Al-Ghanimi said, "All these cities will be built through investment, and the period for submitting investment applications is one month, after which the National Investment Commission begins to open and analyze bids, and then refer them to sober companies and serious investors who have previous similar works, with the submission of Feasibility studies and detailed engineering plans.
The new residential cities will include important details, according to Al-Ghanmi, as the investment companies will grant the government a percentage of ownership between 10% and 25% of the total housing units that will be included. Determining the price of the housing units as a whole, he said.
Al-Ghanmi explained that the implementation period will depend on the bids submitted, but the government is keen to choose the best companies that will ensure the speed of implementation and the construction of all infrastructure for all new cities.
Views 115
Added 06/13/2023 - 11:22 AM
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