Iraq is seeking to attract the attention of investors during the World Summit Properties

01/10/2012

Iraq is seeking to attract the attention of investors during the World Summit Properties

BAGHDAD / JD / .. Pat Iraq the focus of attention of real estate investors from the Middle East with his quest to create about three million housing units over the next five years and the country's reconstruction and infrastructure.

According to the Minister of Housing and Reconstruction of Iraq in a statement published by Al Bayan UAE, the government has allocated $ 120 billion from its budget in 2013 for this purpose, rising to $ 200 billion by the year 2015, which highlights the size of the effort required for the advancement of infrastructure and promotion of investment opportunities.

And will strengthen these ambitions this week in Dubai, with the participation of Mohamed Draghi, the Minister of Housing and Reconstruction of Iraq, and the Iraqi delegation official participant at Cityscape Global, which takes place between 2-4 October to land the Dubai International Convention and Exhibition Centre.

During a speech delivered on the second day of the Global Real Estate Summit held on the sidelines of the Cityscape Global, Draghi will address the investment opportunities available in his country and the practices adopted to reduce the risks in the fast-growing real estate market.

He said Draghi, the Ministry of Housing and Reconstruction of Iraq is working hard to construction projects is estimated at about $ 10 billion over the next five years, including street rapid No. 2 $ 4 billion, which is scheduled to complete work when connecting southern Iraq Bosta and north, before meeting Syria and Turkey.

Draghi pointed out that the Iraqi parliament is currently examining a number of projects in infrastructure projects ranging from electricity, health, education, housing, water and sewage systems and the environment, and worth an estimated U.S. $ 37 billion.

He said Draghi: "Given the trends of the ongoing economic and qualitative leap for the market economic After 2003, Iraq has witnessed significant changes in terms of legislation and economic activities of government. New laws that aim to attract new investment and boost the economy is approved already, and this move will contribute to accelerate the restructuring of our economy."

He added Draghi: "We hope to integrate easily with the economic markets and commercial high, and we hope to contribute to post the Ministry of Housing and Reconstruction of Iraq in achieving good achievements through our participation at Cityscape Global 2012. We are excited to communicate for the first time with the participants in the exhibition along with a number of officials Governments participants ". / end / / 22 [b]


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