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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Al-Emaar announces the start of a plan to reduce residential unit prices

    Rocky
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    Al-Emaar announces the start of a plan to reduce residential unit prices Empty Al-Emaar announces the start of a plan to reduce residential unit prices

    Post by Rocky Tue 11 Jun 2024, 6:54 am

    Al-Emaar announces the start of a plan to reduce residential unit prices

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    Economy News _ Baghdad
    Today, Tuesday, the Ministry of Construction and Housing announced the start of a plan to reduce the prices of residential units, and while it indicated the beginning of reaping its first fruits, it confirmed the intention to establish 7 residential cities for investment during the coming period.
    Ministry spokesman Nabil Al-Saffar said in an interview with the Iraqi News Agency, followed by Al-Iqtisad News, that “the Ministry has begun building new residential cities within the government program plan, which will provide thousands of units.”
    He explained that "the increase in the number of residential units in the market will lead to a decrease in their prices, given that the issue of real estate is subject to the issue of supply and demand," indicating that "some owners of large capital took advantage of the actual need for residential complexes, which led to an increase in prices."
    He added, "There is a stagnation in current real estate prices," noting that "the Housing Department's plan extends from 2024 to 2030 and includes the establishment of residential cities and Housing Fund loans, as all of these matters will lead to a significant decline in residential unit prices."
    He pointed out, "The Ministry is moving towards establishing residential cities outside the center, in addition to allocating a percentage of the units and giving them to the state in exchange for granting land areas for investment."
    Al-Saffar stressed that "the cities to be established are exemplary and contain educational, health and entertainment facilities, in addition to being sustainable, environmentally friendly cities that will take into account the use of heat-insulating and environmentally friendly materials."
    He continued, "The project is huge and the ministry has begun establishing 5 cities, in addition to 7 other cities that will be offered for investment in the coming period."



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