Iraq awards 5 new city projects
Iraq has awarded five projects to construct new cities in various parts of the country and is planning to offer six other similar projects, an official has said.
The five awarded contracts include the 120,000-house Ali Al-Wardi City near Baghdad, which has been awarded to Ora Developers, owned by Egyptian tycoon Naguib Sawiris.
'This is the largest new city in Iraq….its designs have been completed and the project will be launched shortly after it was approved by the cabinet,' said Nabil Al-Saffar, a spokesman for the Construction and Housing Ministry.
'We have plans to offer six new such projects on an investment basis…these cities are part of a strategy by the Ministry to tackle the housing crisis in Iraq,' he told the official Iraqi News Agency (INA) on Sunday.
Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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