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New Cities Authority: 500,000 housing units will enter the real estate market within 5 years
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Economy News - Baghdad
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Added 10/28/2024 - 9:39 PM
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In the name of Allah
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Economy News - Baghdad
The head of the New Cities Implementation Authority, Hamed Abdel Hamad, confirmed on Monday that 500,000 housing units will enter the real estate market over the next five years, while setting a date for announcing 6 new cities.
Hamad said in a televised statement followed by "Al-Eqtisad News" that "the new cities program is one of the largest projects in the current government, and it is a promising program to solve the housing crisis in the country in stages," indicating that "the authority is currently working on 52 cities in all governorates, five of which have been referred and issued investment licenses, and some of them have been started and some have completed their basic designs with modern specifications."
He added that "next week, 6 new cities will be announced distributed across the governorates in each of (Balad City in Salah al-Din, Mutanabbi City in Wasit, Salam City in Najaf, Al-Majar al-Kabir in Maysan, Al-Warka in Muthanna, and Ur City in Dhi Qar)."
He pointed out that "the government program includes facilitating citizens' access to housing units in these cities, through banking facilities for citizens," noting that "there is a study to increase the amounts for citizens and banking facilities through easy payment for citizens over long periods of time," noting that "the time periods for completing the project were set within the criteria for comparison for investors."
He stressed that "the number of housing units that will enter the real estate market ranges from 400 to 500 thousand housing units over the next five years."
He added that "next week, 6 new cities will be announced distributed across the governorates in each of (Balad City in Salah al-Din, Mutanabbi City in Wasit, Salam City in Najaf, Al-Majar al-Kabir in Maysan, Al-Warka in Muthanna, and Ur City in Dhi Qar)."
He pointed out that "the government program includes facilitating citizens' access to housing units in these cities, through banking facilities for citizens," noting that "there is a study to increase the amounts for citizens and banking facilities through easy payment for citizens over long periods of time," noting that "the time periods for completing the project were set within the criteria for comparison for investors."
He stressed that "the number of housing units that will enter the real estate market ranges from 400 to 500 thousand housing units over the next five years."
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Added 10/28/2024 - 9:39 PM
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