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Announcing 8 cities as investment opportunities
Iraq 05/19/2024
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the New Cities Authority in the Ministry of Construction, Housing and Public Municipalities announced the imminent announcement of the second round of cities as investment opportunities for companies and real estate developers.
The Director of the Authority, Engineer Hamid Abd Hamad, said in an interview with “Al-Sabah”: “The procedures have been completed, to reveal 8 new cities as investment opportunities within the second group of residential cities in the government program for housing, in addition to working to complete the procedures to announce three other cities soon.” », noting that «the cities will be available for investment to Arab and international companies, and local investors wishing to invest in this vital sector.»
Hamad explained that “the beginning of next month will witness the holding of a large conference to announce investment opportunities, in the presence of international, Arab and Gulf companies,” noting that “the Authority’s headquarters witnessed the visit of dozens of companies to review investment opportunities in these cities, and we sensed a real desire to invest in this sector.”
The director of the authority added that “five new cities had previously been assigned, including “Ali Al-Wardi” with the signing of the initial contract, while work began after the issuance of the investment license in the cities of “Al-Jawahiri” in Baghdad and “Al-Ghazlani” in Nineveh,” pointing out that “the Chinese and Iraqi companies The two implementing agencies have begun installing concrete factory units, administrative buildings, and soil leveling works in Al-Ghazlani, with the actual implementation of them starting within the next three months.”
He stated that “the other city is “The Banks of Karbala,” which is distributed among three investors with experience and previous similar work, including a Malaysian company, which is in the process of issuing an investment license and starting work next month after handing over the site. As for “The Gardens” in Babylon, it is in the process of preparing plans and delivering the project. Land and issuance of leave.
Regarding construction operations, he explained, “It was directed that all cities be at the level of smart and sustainable cities with all their details, including electronic transactions and the use of technology in the daily movement of residents.”
Regarding the marketing of residential units in new cities, he said: “Directives will be issued to investing companies to announce unit prices through their websites, so that citizens can enter and register directly,” calling on citizens to “stay away from fictitious entities that claim to be connected to new cities and promote unrealistic matters regarding prices.” Or marketing residential units, and citizens can view the authority’s website to answer all their inquiries and questions, or go to the company directly instead of taking other methods that may not lead
to the same purpose.
Edited by: Ali Abdel Khaleq
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