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Determine the categories included in the new residential city units
Economical 01/02/2024
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Baghdad: Al-Sabah
The Ministry of Construction, Housing, Municipalities and Public Works identified the categories included in obtaining units in the new residential cities, and while it confirmed that these cities will contribute to a decrease in real estate prices, it indicated that there is a trend within the Al-Jawahiri City project to grant plots of land with soft loans. The official spokesman for the Ministry of Construction and Housing, Nabil Al-Saffar, told the Iraqi News Agency (INA): “The Al-Jawahiri Residential City, the foundation stone of which was recently laid by Prime Minister Muhammad Shiaa Al-Sudani, is one of the projects that were transferred within five cities to the private sector. Its area will reach 7,155 dunums and will include 30,000 units.” Residential areas, in addition to 10,000 serviced plots of land.
He added, "The transfer of cities and lands of this size occurs for the first time in Iraq, where several standards have been set for developers and investors to establish these cities," explaining that "the Ministry has planned for the cities to be sustainable with the use of insulating materials for construction, and other standards related to the efficiency of the companies that implement the projects." We are continuing with residential cities to address the housing crisis in the country.” He pointed out that "there are 10,000 plots of land within the project that will be serviced and the government will grant soft loans to build them, given that the project it is adopting targets the poor and middle classes and those with limited income, meaning that the citizen will have two options: either granting him a housing unit or a plot of land with a loan that will help him build." ". Regarding the categories included in the plots of land and housing units, Al-Saffar explained, “There is a team in the Ministry of Construction authorized to set the percentages for distributing these housing units or lands to those entitled to them, which could include social care, the families of martyrs and displaced persons, and humanitarian cases similar to what the National Housing Council allocates, and community percentages.” ".
He stated that "some individuals with limited income can be supported by the state by bearing a portion of the land amounts amounting to 50% or granting it to them at a symbolic price." He pointed out that "there are other cities in the process of completing procedures and referring them to developers and investors, similar to the cities that were referred," indicating that "the file of residential cities will continue to advance over the coming years to address the housing crisis in Iraq, which will naturally contribute to reducing real estate prices in Iraq." .
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