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Almost free land, unsound construction and "very high" prices.. Basra residential complexes under the microscope - Urgent[You must be registered and logged in to see this image.]
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Baghdad Today - Basra
The head of the Investment Committee in Basra Provincial Council, Atyaf Al-Tamimi, revealed today, Friday (August 9, 2024), the provincial council’s intention to question the head of the Investment Authority, Ali Abdul Hussein, due to the significant increase in the prices of housing units.
Al-Tamimi said in an interview with Baghdad Today, "The land is given almost free of charge to the investor, so why these prices?" indicating that "the construction in these complexes does not rise to the level of high-level construction in terms of solidity and other things."
Al-Tamimi explained that “only high-income people can afford to buy residential complexes in Basra, and therefore we want to know why the housing units are so expensive.”
The prices of residential units in Basra are witnessing a high increase, as the price of a 200-square-meter house, which is one and a half floors, is no less than 400 million, while the prices of some houses, called villas, have reached one billion dinars.
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