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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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Established in 2006 as a Community of Reality

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    Expert reveals problems of residential city investments: prices are astronomical

    Rocky
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    Expert reveals problems of residential city investments: prices are astronomical Empty Expert reveals problems of residential city investments: prices are astronomical

    Post by Rocky Sun 11 Aug 2024, 6:59 am

    Expert reveals problems of residential city investments: prices are astronomical
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    Baghdad Today - Baghdad 
    Today, Sunday (August 11, 2024), Mustafa Akram Hantoush, an economic expert, revealed the problems of residential city investments in Iraq.
    Hantoush told Baghdad Today, "There are several forms of residential investment. The first form is the big cities like Bismayah, which is a good model, like Ali Al-Wardi and Al-Jawahiri cities, but these cities must have expressways and their prices must be reduced."
    He explained that "the second type is the high-end investment in the center of the capital, Baghdad, where the prices of some apartments have reached very exorbitant prices. This investment has caused problems, including damaging the infrastructure and causing congestion, as well as problems in terms of prices."
    Hantoush added, "The Investment Authority has recently started to pay attention to prices, feasibility studies, and other matters, which is better than previous periods. Also, working to repeat the Bismayah model is important, but these residential cities must be granted to companies with experience and solidity."
    The economic expert stressed that "Iraq needs reconstruction policies, and the Ministry of Construction and Housing is required to develop a real estate policy that begins with residential cities adjacent to the capital Baghdad and the governorates, then real estate reconciliation for agricultural properties that have become residential and resolve this file and provide correct services to those areas, and facilitate the granting of construction and purchase loans to support the real estate policy so that it is a real policy in eliminating the housing crisis."
    The head of the Investment Committee in the Basra Provincial Council, Atyaf Al-Tamimi, revealed on 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.”
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