Investment Co announces near completion of 10 thousand housing units in Basmajh

Investment Co announces near completion of 10 thousand housing units in Basmajh 



Announced that the National Investment Commission, on Tuesday, near the completion of 10 thousand housing units in the city Basmajh for distribution to the end of next year on the beneficiaries, while the project showed that influenced the events of last June, the company confirmed its intention to establish an Iraqi Korean joint management of the city.

Sami al-Araji, Chairman of the Commission, in a press conference held Bbasmajh, "The work on the project according to the schedule being planned and will be the completion of 10 thousand housing units incomplete services, during 2015, next, to be distributed to the beneficiaries end." He expressed hope that "witnessing the next few months progress the implementation of the second phase of the residential units."

Araji said that "the volatile situation that has gripped Iraq since last June, has affected the work of the Korean company is executing the project because of banditry that used to come through which the raw materials that you need." He pointed out that "the Korean company has addressed those problems and continued to work on the scheme in accordance with the specified time."

The head of the Investment Authority to "Hanwha Corporation and the Korean government to Oagafoheme with Iraq and supplement the project despite the big challenges and Ajhthma." And that "the company informed the Commission that they will not withdraw from the project as long as Iraq was willing to do so, contrary to what was done by a lot of other foreign companies."

According to Araji that "the introduction of the Investment Authority reduced premium residential units in the project from 25 to 10 percent only, for a period of installment extends to 15 years in addition to allow standing 5 years." He noted that "Investment Authority ended the foundation designs for 16 projects related to the construction of schools, sanitation and health centers, and others, to begin the implementation phase of commercial centers in 2017."

According to Araji, the "Project Basmajh includes more than 100 thousand units were sold about 70 thousand of them through the body, and another 10 thousand to the Rasheed Bank and the ideals of the Iraqi Rafidain and trade." Carter said the number of "registered with the Authority who have committed themselves to make payments in installments or provide written pledge from government departments so far covered 10 percent of the percentage of housing units in the city."

Araji expressed optimism that "increasing the proportion of registered when making sure that the completion of the project and the availability of services." He revealed, "the determination of the Commission establish a joint venture with Korean company Hanwha management Basmajh City for a fee paid by the financial population."

The head of the National Investment Commission said that "the Lebanese Aigaz company will distribute the liquid gas for residential units in the city in coordination with the Authority and the Iraqi Oil Ministry." Continued that "the body is coordinating with the Ministry of Construction and Housing to expand the road to Baghdad - Cote down to the new Diyala Bridge, and up the eastern region of the door, is also coordinating with the Ministry of Transport to implement the project a special train from the city center Basmajh to Baghdad."

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