Egypt's Ora Developers breaks ground for Ali-Wardi project in Iraq
Al-Wardi city comprises 100,000 houses and will be constructed by Ora Developers, owned by Egyptian tycoon Naguib Sawiris, the official Iraqi news agency reported.
Construction and Housing Minister Benkin Rikani laid the foundation stone for the project, which has an area of nearly 60 square kilometres.
'This is one of the largest housing projects in Iraq…it also includes schools, universities, hospitals, shops and recreation facilities,' Rikani said.
Iraq has awarded several contracts to foreign firms over the past two years for the construction of new cities within a post-war programme to tackle a housing crisis.
Last month, Zawya Projects reported that Egypt-listed TMG in talks with the Iraqi government to build 45,000 houses in the country.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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