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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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    Parliamentary talk about Baghdad residential complexes: profits reach 300%

    Rocky
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    Parliamentary talk about Baghdad residential complexes: profits reach 300% Empty Parliamentary talk about Baghdad residential complexes: profits reach 300%

    Post by Rocky Thu 26 Sep 2024, 4:07 am

    [size=35][size=35]Parliamentary talk about Baghdad residential complexes: profits reach 300%[/size]
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    2024-09-25 | 15:35
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    The Parliamentary Investment Committee considered, on Wednesday, that the profits in residential complexes in[You must be registered and logged in to see this link.]It reaches 300%, and while she confirmed that the investment law needs to be amended, she pointed out the lack of commitment to prices in the Gateway Complex.[You must be registered and logged in to see this link.].


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    He said[You must be registered and logged in to see this link.]Chairman of the Committee[You must be registered and logged in to see this link.]Al-Saabry during his interview with the program "After Investigation" broadcast by[You must be registered and logged in to see this link.]Space, it is "according to the existing study[You must be registered and logged in to see this link.]“We need three million housing units,” he explained, “We do not have complexes that meet the purpose because the demand is high and the population base is expanding, and we have crossed 42 million people.”


     
    He added that "the problem is rooted in the granting of lands in the heart of[You must be registered and logged in to see this link.]Without calculations, because the complexes need infrastructure and services and cannot handle these numbers.
     
    Al-Saabari pointed out that “the investment law needs to be amended and we formed a committee and studied this issue because it has pitfalls and every law must suit the general situation,” adding, “There are problems in the law, oversight, exceptions, and land ownership.”
     
    He added, "We hope that the investment will be outside the municipality's borders so that its prices will be lower," stressing that "the investor is supposed to be monitored when selling the units, and there is no procedure in this regard."
     
    Al-Saabry revealed that “the profits in the residential complexes in[You must be registered and logged in to see this link.]It reaches 300%,” he added, “There are complexes where the value of the apartment or[You must be registered and logged in to see this link.]The residential area does not exceed 100 million dinars, and he sells it for 400 million, which increases its price by 300%.
     
    He believed that "the problem lies in the absence of oversight and the lack of contracts with[You must be registered and logged in to see this link.]"Therefore, the foreign investor does not come," he added, "It is assumed that every investment authority in[You must be registered and logged in to see this link.]The governorates have an investment map.
     
    Regarding the “Iraq Gate” complex in Baghdad, he said:[You must be registered and logged in to see this link.]The head of the parliamentary investment committee said, “The prices in all complexes are high and do not conform to the economic feasibility, including this complex,” stressing “the failure to adhere to the prices at which it was supposed to be sold, and the profits are not less than 300%, and this problem includes most residential complexes.”
     
    He stressed that "the solution is not only supervisory, but also finding...[You must be registered and logged in to see this link.]"Residential in new cities," he added, "the solution is not in one day or one night, but rather in two or three years."
     
    On September 18, 2024, the Parliamentary Integrity Committee revealed that it had begun opening the file of the “Iraq Gate” housing project in Baghdad, indicating that the file includes the exaggeration in the prices of housing units and the expansion occurring in the project.
     
    As a member pointed out,[You must be registered and logged in to see this link.]MP Raed Al-Maliki said that his committee welcomed the opening of the investigation file into the Gateway project.[You must be registered and logged in to see this link.]Residential in Baghdad, noting that the project contained exaggerated prices and privileges at the expense of public money.
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