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Parliamentary Services: The Investment Law is the reason for the rise in real estate prices
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Economy News - Baghdad
Member of the Parliamentary Services and Reconstruction Committee, MP Mahdia Al-Lami, confirmed that the expansion of streets and bridges does not completely solve traffic congestion, while she indicated that the rise in housing unit prices is due to the investment law.
Al-Lami said during a televised interview followed by “Al-Iqtisad News” that “expanding streets and bridges does not completely solve traffic congestion and requires concerted efforts with traffic police and old cars must be paid in installments,” noting that “random confusion and chaos at work are what produced random projects and strategic plans.” “So the solutions are difficult.”
She added, "The prices of housing units are very high, and even people with middle income cannot afford them. Citizens feel frustrated with housing projects because of the investment law, which gave a wide space to investors and did not specify the price of housing units. However, the new cities will be for these poor classes."
The member of parliamentary services explained, “Projects that took money from citizens to build residential complexes and were slow in their work must know who gave them approvals. If they were from the National Investment Commission, then it is the role of the Governorate and Integrity Councils to monitor them.”
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Added 02/24/2024 - 9:08 AM
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Economy News - Baghdad
Member of the Parliamentary Services and Reconstruction Committee, MP Mahdia Al-Lami, confirmed that the expansion of streets and bridges does not completely solve traffic congestion, while she indicated that the rise in housing unit prices is due to the investment law.
Al-Lami said during a televised interview followed by “Al-Iqtisad News” that “expanding streets and bridges does not completely solve traffic congestion and requires concerted efforts with traffic police and old cars must be paid in installments,” noting that “random confusion and chaos at work are what produced random projects and strategic plans.” “So the solutions are difficult.”
She added, "The prices of housing units are very high, and even people with middle income cannot afford them. Citizens feel frustrated with housing projects because of the investment law, which gave a wide space to investors and did not specify the price of housing units. However, the new cities will be for these poor classes."
The member of parliamentary services explained, “Projects that took money from citizens to build residential complexes and were slow in their work must know who gave them approvals. If they were from the National Investment Commission, then it is the role of the Governorate and Integrity Councils to monitor them.”
112 views
Added 02/24/2024 - 9:08 AM
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