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[size=36]New government measures to reduce real estate prices throughout Iraq[/size]
Economy | 04:42 - 10/29/2023
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Mawazine News - Baghdad
The Minister of Construction, Housing and Public Municipalities, Benkin Rekani, announced on Sunday government measures that will contribute to reducing real estate prices, while indicating the imminent launch of new residential city projects throughout the country.
Rikani said during a press conference, “The current focus is on the services sector, which is one of the matters that most occupies the Iraqi street at the present time, as there is a major shortage in all services in important sectors such as water, electricity, sewage services, roads, and housing,” indicating that “the Ministry of Construction and Housing Public municipalities are responsible to some extent for a number of these sectors, but they are not concerned with implementing many projects, as the Ministry is responsible for drawing up policies and strategic projects only.”
Rekani added, “The Ministry is currently implementing 306 projects throughout Iraq in the road sectors, as we have begun implementing more than 90 projects in the fields of roads, water, and sewage, and also in the housing sector, which is considered the weakest and does not meet the ambition. However, the government’s focus since day one and a major program Minister Muhammad Shiaa Al-Sudani was mainly concerned with two sectors, namely the housing sector and the roads sector, which are two sectors linked to the reality of the current cities, which have become densely populated and suffocating cities that place great pressure on the existing infrastructure in them.
He continued, "Traffic congestion in Baghdad was the biggest challenge for us, as Prime Minister Muhammad Shia al-Sudani seriously adopted this project and the first package was launched last March," noting that "these projects are the fastest in all governments, not just this government, as has been done." “Plan it properly, and its obstacles and obstacles are very great.”
He explained, "All projects are going according to plan, as there are 19 important projects in Baghdad that will contribute to reducing congestion by up to 80%. These projects are very important because they constitute a factor of psychological, as well as economic, environmental, and temporal pressure on the lives of citizens," expressing He expressed his hope "that the budget and revenues during the year 2024 are appropriate for the start of the second package of these projects, as there are many projects awaiting the allocation of funds and approval to begin them in Baghdad as well."
He stated that "the projects were completed after careful monitoring of traffic in Baghdad using smart cameras placed at important intersections in the capital and accurately calculated the flow of congestion in these areas. They were also monitored using special software via satellites. An international consultant and advanced computer programs were also used to prepare plans and designs." These ways.
Regarding the housing sector, Rikani said, “For the first time, the government does not grant land for free to investors, as there is always a complaint from Iraqis that investment projects are sold at high prices, and in fact their prices are high, and in some areas prices reach four times the cost of construction for these projects, as the land was granted.” Almost free of charge, 2% of their real value for residential investment purposes,” he explained, explaining that “the government’s policy is to grant lands in exchange for a percentage of the serviced lands or residential units granted to the state so that the state can use these lands either to distribute their ownership to the deserving people or even to grant them for a symbolic rent to deserving citizens.” ".
He pointed out that "the first batch was five cities, we succeeded in four of them in Mosul, Baghdad, Holy Karbala and Hilla, and we failed in one of them in Fallujah because the offers that we received did not meet the ambition, so it was decided to return them," stressing that "in the coming days there will be an announcement about six New cities were awarded with high transparency and acceptable conditions, as these will be new cities and not new neighborhoods planned in a civilized way that meet environmental requirements, sustainability, the use of modern insulating materials in construction, and the use of clean energy in large proportions. They will also have green areas in addition to other services.”
He pointed out that "construction work in these cities will begin in the near future and will greatly benefit citizens, as it will contribute to reducing real estate prices," pointing out that "there are advanced discussions about two new cities in Baghdad with an area of about 50 thousand dunams, which will provide A very large number of residential units.
He stressed that "advanced stages have been reached with the implementers, and the construction of these cities will also be launched soon. Work is also underway on the road network for these cities, as they will be easy-to-access roads after the completion of the project to remove bottlenecks for the city of Baghdad specifically."
He concluded by saying: “There are six other cities that will be announced in the coming days in the governorates of Basra, Maysan, Dhi Qar, Muthanna, Wasit, and Salah al-Din, in addition to two cities in Anbar Governorate,” noting that “next year’s budget for infrastructure depends heavily on oil prices, export quantities, and the amounts allocated to 2024 schedules where a number of projects will be included.”
The Minister of Construction, Housing and Public Municipalities, Benkin Rekani, announced on Sunday government measures that will contribute to reducing real estate prices, while indicating the imminent launch of new residential city projects throughout the country.
Rikani said during a press conference, “The current focus is on the services sector, which is one of the matters that most occupies the Iraqi street at the present time, as there is a major shortage in all services in important sectors such as water, electricity, sewage services, roads, and housing,” indicating that “the Ministry of Construction and Housing Public municipalities are responsible to some extent for a number of these sectors, but they are not concerned with implementing many projects, as the Ministry is responsible for drawing up policies and strategic projects only.”
Rekani added, “The Ministry is currently implementing 306 projects throughout Iraq in the road sectors, as we have begun implementing more than 90 projects in the fields of roads, water, and sewage, and also in the housing sector, which is considered the weakest and does not meet the ambition. However, the government’s focus since day one and a major program Minister Muhammad Shiaa Al-Sudani was mainly concerned with two sectors, namely the housing sector and the roads sector, which are two sectors linked to the reality of the current cities, which have become densely populated and suffocating cities that place great pressure on the existing infrastructure in them.
He continued, "Traffic congestion in Baghdad was the biggest challenge for us, as Prime Minister Muhammad Shia al-Sudani seriously adopted this project and the first package was launched last March," noting that "these projects are the fastest in all governments, not just this government, as has been done." “Plan it properly, and its obstacles and obstacles are very great.”
He explained, "All projects are going according to plan, as there are 19 important projects in Baghdad that will contribute to reducing congestion by up to 80%. These projects are very important because they constitute a factor of psychological, as well as economic, environmental, and temporal pressure on the lives of citizens," expressing He expressed his hope "that the budget and revenues during the year 2024 are appropriate for the start of the second package of these projects, as there are many projects awaiting the allocation of funds and approval to begin them in Baghdad as well."
He stated that "the projects were completed after careful monitoring of traffic in Baghdad using smart cameras placed at important intersections in the capital and accurately calculated the flow of congestion in these areas. They were also monitored using special software via satellites. An international consultant and advanced computer programs were also used to prepare plans and designs." These ways.
Regarding the housing sector, Rikani said, “For the first time, the government does not grant land for free to investors, as there is always a complaint from Iraqis that investment projects are sold at high prices, and in fact their prices are high, and in some areas prices reach four times the cost of construction for these projects, as the land was granted.” Almost free of charge, 2% of their real value for residential investment purposes,” he explained, explaining that “the government’s policy is to grant lands in exchange for a percentage of the serviced lands or residential units granted to the state so that the state can use these lands either to distribute their ownership to the deserving people or even to grant them for a symbolic rent to deserving citizens.” ".
He pointed out that "the first batch was five cities, we succeeded in four of them in Mosul, Baghdad, Holy Karbala and Hilla, and we failed in one of them in Fallujah because the offers that we received did not meet the ambition, so it was decided to return them," stressing that "in the coming days there will be an announcement about six New cities were awarded with high transparency and acceptable conditions, as these will be new cities and not new neighborhoods planned in a civilized way that meet environmental requirements, sustainability, the use of modern insulating materials in construction, and the use of clean energy in large proportions. They will also have green areas in addition to other services.”
He pointed out that "construction work in these cities will begin in the near future and will greatly benefit citizens, as it will contribute to reducing real estate prices," pointing out that "there are advanced discussions about two new cities in Baghdad with an area of about 50 thousand dunams, which will provide A very large number of residential units.
He stressed that "advanced stages have been reached with the implementers, and the construction of these cities will also be launched soon. Work is also underway on the road network for these cities, as they will be easy-to-access roads after the completion of the project to remove bottlenecks for the city of Baghdad specifically."
He concluded by saying: “There are six other cities that will be announced in the coming days in the governorates of Basra, Maysan, Dhi Qar, Muthanna, Wasit, and Salah al-Din, in addition to two cities in Anbar Governorate,” noting that “next year’s budget for infrastructure depends heavily on oil prices, export quantities, and the amounts allocated to 2024 schedules where a number of projects will be included.”
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