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Investment Authority and Hanwha Company sign an addendum to the contract for the completion of 70,000 housing units in Bismayah
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[rtl]Baghdad / NINA / The National Investment Commission signed with the South Korean Hanwha Company an annex to the contract for the establishment and development of the Bismayah Residential City project.
A statement by the Commission stated that the signing ceremony of the annex to the contract for the establishment and development of the Bismayah City project and the implementation of the city's infrastructure took place to complete the construction of the remaining 70,000
housing units of the project by the Korean Hanwha Company. The Chairman of the National Investment Commission, Haider Makiya, indicated the completion of negotiations with the Korean Hanwha Company based on Cabinet Resolution No. 23642 of 2023, paragraph two of the resolution, which includes the completion of the construction of the remaining housing units of the project, amounting to 70,560 housing units, by the Hanwha Company, by amending the project contract to ensure that the financing of the construction of these housing units is directly from the beneficiary, similar to other investment housing projects. The contract annex will be submitted to the Legal Department of the General Secretariat of the Council of Ministers to obtain the approval of the Council of Ministers on the draft contract annex.
He added that the signing process also included a contract to implement the infrastructure and social services in the city by the same company, ensuring that the vital services of the project are implemented with high efficiency and accurate timing, expecting that this achievement will represent an end to the speculation witnessed by the project market during the past years, which has burdened many citizens in obtaining a suitable housing opportunity.
He reassured all those registered for the project, from previous beneficiaries and new registrants through the electronic platform of Or, that they will obtain a fair housing opportunity befitting the Iraqi family, and at the timings that the authority will announce later in coordination with Hanwha Company. /End 2 [You must be registered and logged in to see this link.][/rtl]
A statement by the Commission stated that the signing ceremony of the annex to the contract for the establishment and development of the Bismayah City project and the implementation of the city's infrastructure took place to complete the construction of the remaining 70,000
housing units of the project by the Korean Hanwha Company. The Chairman of the National Investment Commission, Haider Makiya, indicated the completion of negotiations with the Korean Hanwha Company based on Cabinet Resolution No. 23642 of 2023, paragraph two of the resolution, which includes the completion of the construction of the remaining housing units of the project, amounting to 70,560 housing units, by the Hanwha Company, by amending the project contract to ensure that the financing of the construction of these housing units is directly from the beneficiary, similar to other investment housing projects. The contract annex will be submitted to the Legal Department of the General Secretariat of the Council of Ministers to obtain the approval of the Council of Ministers on the draft contract annex.
He added that the signing process also included a contract to implement the infrastructure and social services in the city by the same company, ensuring that the vital services of the project are implemented with high efficiency and accurate timing, expecting that this achievement will represent an end to the speculation witnessed by the project market during the past years, which has burdened many citizens in obtaining a suitable housing opportunity.
He reassured all those registered for the project, from previous beneficiaries and new registrants through the electronic platform of Or, that they will obtain a fair housing opportunity befitting the Iraqi family, and at the timings that the authority will announce later in coordination with Hanwha Company. /End 2 [You must be registered and logged in to see this link.][/rtl]
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