A half-billion-dollar residential project to invest in Iraq


A residential project in Iraq, comprising 4,000 housing units, will be built on Sunday in Maysan province to invest at a cost of half a billion dollars. The project will be implemented by Ever Bright, the Chinese company.
Sami Raouf al-Araji, head of the National Investment Authority, said in a statement that “the Commission and the continuation of its program for the national housing project, including the completion of one million housing units in all governorates of Iraq, today embrace the work of signing the investment contract and grant the leave of the project of the completion of about (4000) housing units for the province of Maysan Three years’ achievement “.
“This project, which will be implemented by Chinese company Iver Bright, worth half a billion dollars, represents in its designs one of the global investment models, which will be completed on an area of ​​(600) acres, including green areas, services, commercial centers, health and entertainment and other needs of any housing complex we hope to be Model for similar projects in the provinces. ”
He pointed out that “the signing of this project represents the end of a long period of hard work that lasted for two years on all levels (technical, legal, engineering) and with various bodies in the State. All of these agreements were approved by the Council of Ministers. (250) million dollars. ”
For his part, Ali Douai, Governor of Maysan, expressed his “high thanks and appreciation to the National Investment Authority for its efforts to ensure the success of this project, which is hoped to be a pioneering step to contribute to solving a large part of the need for the province of housing, which is estimated at (60) thousand housing units.”
The project will consist of (4000) residential units capable of increasing the integrated services of infrastructure, schools, clinics and public facilities, and the construction will be in the form of independent residential units (200 m2, 300 m2).
(30%) of the value of the residential unit by (15%) each, provided that the banks to fill the remaining amount of the value of the residential unit in the form of monthly installments extending to (15) years.
In turn, the director of the Dar Al-Nahhas Lebanese Contracting Group expressed his happiness to work in Iraq and contribute to the investment process in the province of Maysan.
He stressed the company’s continuous efforts to provide all means to ensure the success of the project, calling at the same time the relevant authorities in the state to review the Iraqi laws on investment to provide facilities and more advantages to the foreign investor in order to contribute more to the investment process and the establishment of projects.

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