The government issues its instructions on investment in housing, electricity and other sectors

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The government issues its instructions on investment in housing, electricity and other sectors

Post  Admin on Wed Aug 09, 2017 10:54 am

Wednesday, 9 August 2017 - 06:30 PM

A spokesman for Prime Minister Saad al-Hadithi's office

The central government issued its instructions on investment in housing, electricity and a number of other sectors, with the participation of the private sector.

A spokesman for Prime Minister Saad al-Hadithi's office said that since its establishment, the government has adopted an ambitious program to achieve partnership with the private sector, open new doors for investment and encourage investors, whether individuals or companies, to enter the Iraqi investment market. The investment requirements were facilitated to an unprecedented extent starting from the procedures of registration and issuance and granting of investment licenses by adopting a single window.

He added that the National Investment Commission, in coordination with the Investment Authority in the region or in the provinces that are not organized in the province to determine the appropriate properties for the implementation of investment projects and coordination with the owner of the real estate in the allocation of real estate for the establishment of investment projects provided that the property allocated to the project to the investor within 30 days From the date of the allocation free from concerns.

He explained that the committee assesses the value of state and public sector properties for the purposes of major strategic projects and projects of a federal nature, noting that the land allocated to residential projects within the basic design has a sales allowance of 10% of the value of real land.

He stressed that to stimulate investment in the housing sector and to reduce the wages of housing units in investment complexes to the maximum extent possible in support of the registrants on these units, the new system included the ownership of the investor and developer land allocated for housing purposes (outside the basic design) without allowance, The value of the residential unit sold to the citizen, in order to push towards the establishment of major housing projects contribute to address the problem of housing and provide housing units at prices commensurate with the income level of the vast majority of citizens.

He pointed out that with regard to land allocated to industrial projects, the system provided for the ownership of 15% of the real value of the land within the basic design and 5% for the land outside the basic design.

On the rent, Al-Hadithi pointed out that the system provides for the land required for the implementation of multi-purpose residential projects such as the residential, recreational or service complex within the residential cities on a rent or mussatah fee of 7% of the estimated rent value of 10% of the real value of the land. To return land used for public benefit, such as gardens, streets and others to the relevant government authorities within 60 days from the date of completion of the project free of charge.

The land allocated for agricultural projects will be leased as follows (arable lands with a 20% water share, non-reclaimed arable land with a 10% water share, and uncultivated arable land It has no water quota with a rent of 2%, land that is not reclaimed and is not suitable for agriculture and has no share of 1% rent).

He pointed out that the industrial projects that are set up in the designated areas for the purposes of industrial investment projects are leased with a rent or a flat rate of 2%. The same percentage applies to electrical, oil and other projects located outside the municipal boundaries. The service projects such as health, education, , And for tourism projects such as tourist cities or cities of games or recreational complexes and others will be paid by a 10% rent or a mansatah. In respect of commercial projects such as commercial centers, hotels, etc. are subject to a 10% Miss the first ten years of the business startup date, and the ratio after the end of the period mentioned rent allowance of 3% of the value of the land.


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