Signing a contract for the construction of the largest residential city in Iraq - 1/31/2024

[ronscarpa]

Signing a contract for the construction of the largest residential city in Iraq

SocietyResidential ProjectsAli Al-Wardi City

 

2024-01-31 // 05:40

 

Shafaq News / Prime Minister Muhammad Shiaa Al-Sudani announced today, Wednesday, the signing of a contract report with the Egyptian “ORA” Real Estate Development Company to construct the new “Ali Al-Wardi” residential city, southeast of Baghdad, while describing the project as “the largest” among the five city projects.

 

The Sudanese media office said in a statement received by Shafaq News Agency, “The Sudanese sponsored the signing of the contract for the new Ali al-Wardi residential city project, by the Minister of Housing, Construction and Municipalities, with the director of the ORA Real Estate Development Company, Naguib Sawiris, and the project is the largest among the five city projects.” The new housing units are in their first phase, which the government program has given priority for implementation.”

 

Al-Sudani pointed out, during the signing ceremony, that “the strategy for solving the housing crisis followed by the government includes creating cities serviced by infrastructure, with thousands of different housing units available, to suit various categories of citizens, and it also works to reduce population pressure on the city of Baghdad.” .

 

He stressed that "this project is being implemented for the first time in the history of Iraq of this size and capacity, and that it comes in compliance with what was stated in the government program regarding finding radical and sustainable solutions to the housing crisis."

 

For his part, Naguib Sawiris stated, “This partnership with Iraq to implement the Ali al-Wardi residential city will be a turning point in cooperation and sharing in the pioneering and innovative vision for implementing residential cities, which takes into account the balance between environmental and population needs.”

 

The statement explained that "the new city project, which bears the name of the late Iraqi sociologist and thinker Dr. Ali Al-Wardi, extends over an area of 61 million square meters to the southeastern side of the capital, Baghdad, and will provide 120,000 diverse housing units, as well as urban facilities, green spaces, and city amenities." Technological smartness, in order to apply advanced standards in sustainability and environmental preservation.

 

The statement explained that “Sawiris and Ora are among the most prominent companies known in the field of real estate development at the regional and international levels, and contracting with them comes within the government’s directives to establish successful partnerships with advanced companies and businessmen known for their quality implementation and expertise.”

 

On January 25, 2024, National Investment Authority spokesman Muthanna Al-Ghanimi revealed the details of the construction of the new Ali Al-Wardi residential city, which is larger than the Bismaya residential complex, indicating that a portion of the residential units in it will be distributed free of charge to certain groups.

 

He pointed out that the city will be integrated with basic services and infrastructure, and will also include green spaces, in addition to schools, universities, and health centers, and will include 150,000 housing units. It will be implemented using a modern investment method, and some of it will be given to the state free of charge to distribute it to the deserving categories of those included in the social welfare network. And those with limited and middle income, the poor, employees, and families of martyrs from the army, police, and the Popular Mobilization Forces. There is another section that will be distributed in a system of long-term installments.

 

https://www.shafaq.com/ar/مجتـمع/توقيع-عقد-تشييد-كبر-مدينة-سكنية-في-العراق

[NWGUY]

Hopefully, this will motivate them to invest in themselves.  First though, they need to revalue their currency to afford this in my opinion.