Latest news with #Al-SafiGroup
Zawya
10-02-2025
- Business
- Zawya
Egyptian, Chinese firms win town project in Iraq
Iraq has awarded a new city project comprising nearly 120,000 houses to two Egyptian and Chinese companies along with a local partner. Egypt's Mountain View Company and China Railway will build ''Palm City' in the Southern Basra province after it was approved by the Iraqi cabinet along with similar other projects in various parts of Iraq. The project in Basra also includes the construction of hospitals, shops, roads, power facilities, industrial zones and greening areas, Basra Governor Asaad Idani said, adding that Iraq's Al-Safi Group is the third investor in the project. 'The project has been on the cards for 10 has now been approved and has been awarded to those investors,' he told the Iraqi News Agency (INA) on Sunday. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Iraq Business
06-02-2025
- Business
- Iraq Business
Basra Launches Major Sustainable City Project
By John Lee. Basra Governor Asaad Al-Eidani (pictured) has reportedly announced the launch of Madinat Al-Nakhil [Palm City], a major residential and developmental project in Iraq. Planned for over a decade, the eco-friendly city will span 54 nature reserves and 34 additional dunams, featuring 120,000 housing units, universities, and industrial zones aimed at reducing carbon emissions and improving quality of life, according to a report from Shafaaq . It adds that the project, backed by Egyptian, Chinese, and Gulf-based firms-including Al-Safi Group, Mountain View, and China Railway Construction Corporation-has received full approvals, with investment licences to be granted soon. The local government has pledged infrastructure and security support to investors, positioning Basra as a regional economic hub. See our Comprehensive Guide to Construction Equipment in Iraq here. (Source: Shafaaq) Tags: Al-Safi Group, Basra News, cg, China, China Railway Construction Corporation, Egypt, featured, Housing, Madinat Al-Nakhil, Mountain View, Palm City, sustainability, Urban Development
Iraqi News
05-02-2025
- Business
- Iraqi News
Basra launches Palm City project
Basra ( – One of the biggest housing and development projects in Iraq, the Palm City project (Madinat Al Nakheel), was inaugurated by Basra Governor Asaad Al-Eidani. According to Shafaq, Al-Eidani claimed the city is planned to be environmentally clean and sustainable, with 120,000 residential units, industrial zones, and universities. Al-Eidani disclosed that three prominent construction companies and contractors — the Egyptian Mountain View Company, Al-Safi Group, and China Railway Construction Corporation — had achieved an agreement to work on the project.
Shafaq News
05-02-2025
- Business
- Shafaq News
'Palm City' project takes off in Basra
Shafaq News/ Basra Governor Asaad Al-Eidani announced, on Wednesday, the launch of the Palm City project (Madinat Al Nakheel,) one of Iraq's largest housing and development initiatives. Speaking at a press conference, Al-Eidani said the project spans 54 nature reserves in addition to 34 dunams and is designed as a sustainable, eco-friendly city. "Palm City will include 120,000 housing units, universities, and industrial zones, with natural reserves aimed at reducing carbon emissions and improving quality of life," he stated. The governor added that the long-planned project, which has been in the works for over a decade, has now secured the necessary approvals. "An agreement has been reached with three leading construction firms, and investment licenses will be granted soon," he noted. The three companies are: China Railway Construction Corporation, Al-Safi Group, and the Egyptian Mountain View Company. 'They reaffirmed their commitment to executing the project to the highest standards, expressing their vision of making Basra the 'Jewel of the Gulf' through this major investment.' The governor said.
