Latest news with #MinistryofConstructionandHousing
Iraqi News
26-05-2025
- Business
- Iraqi News
Can new Iraqi cities solve Baghdad's housing crisis?
Baghdad ( – For countless residents of Baghdad and across Iraq, the dream of owning a home has long been overshadowed by the burdensome reality of renting. A persistent housing crisis, fueled by years of instability and a growing population, has made property ownership a distant goal for many. In response, the Iraqi government has launched a series of ambitious new city projects, prompting a crucial question: Will these new developments finally end the rent dream for the average citizen? The government's strategy is ambitious. The Ministry of Construction and Housing recently opened sales centers for the new Al-Jawahiri and Ali Al-Wardi cities, which collectively promise to offer 150,000 housing units and 10,000 serviced land plots in the Abu Ghraib and Nahrawan districts. Another major initiative, the new Al-Sadr City project, aims to provide an additional 90,000 housing units. These projects signal a massive state-led effort to increase housing supply. However, the question of affordability remains at the heart of the debate. For instance, serviced land plots in the new cities are priced at 900,000 IQD per meter. For constructed units, the financial commitment is substantial. According to Ministry spokesperson Istabraq Sabah, a horizontal unit can require a 30 million IQD down payment, with the total price reaching up to 200 million IQD on an installment plan. This pricing structure has drawn criticism. Economic expert Nabil Al-Marsoumi argues that the prices in these new suburban complexes are double what was expected and nearly match real estate prices within Baghdad itself, despite being on the city's outskirts. He suggests a lack of meaningful government support for citizens within these payment schemes, questioning their accessibility for middle and low-income families. The government has stated that a portion of these projects will target specific demographics. For example, 10,000 serviced land plots are set to be distributed through a competitive process among 21 categories of citizens, including families of martyrs, the wounded, widows, and those with special needs. Similarly, the new Al-Sadr City project allocates 11,000 units for residents of informal settlements at a subsidized and almost free price. While these social allocations are vital, they represent a fraction of the total units being built. The challenge remains whether the broader pricing models for the majority of these new homes are truly attainable for the citizens currently trapped in a cycle of renting. The government's large-scale developments offer a glimmer of hope, but their success in resolving the housing crisis will ultimately depend on their true affordability and whether they can bridge the gap between market prices and the financial reality of the average Iraqi family.
Zawya
17-04-2025
- Business
- Zawya
EquipmentsFinder.com joins Project Iraq 2025 as official media partner
Dubai, UAE – the leading digital platform for construction machinery and equipment solutions in the Middle East, is proud to announce its official media partnership with Project Iraq 2025, the region's largest and most influential construction exhibition. The event will take place from June 24–26, 2025, at the Baghdad International Fairground, Iraq. Now in its 13th edition, Project Iraq is set to welcome 300+ exhibiting companies from 20+ countries, with an expected footfall of over 20,000 trade visitors, including top-tier developers, contractors, government delegations, engineers, and industry investors. The exhibition is a cornerstone for rebuilding and shaping Iraq's infrastructure, with billions of dollars allocated in development and reconstruction projects. Mr. Sufiyan Nadeem, CEO of and a prominent voice in the construction tech ecosystem, shared: 'Partnering with Project Iraq 2025 reflects our long-term commitment to bridging global construction markets with Iraq's immense growth potential. Through our platform, we aim to amplify voices, showcase innovation, and connect stakeholders with real business opportunities.' As the official media partner, will drive multi-platform media coverage before, during, and after the event. This includes exhibitor interviews, real-time highlights, equipment showcases, and trend reports—delivering global exposure to one of the most dynamic construction markets in the Middle East. About is a pioneering B2B marketplace dedicated to construction and heavy equipment. The platform connects buyers, sellers, and rental providers with ease and transparency, offering tailored solutions for industry professionals across the GCC and beyond. Learn More: About Project Iraq 2025 Held under the patronage of Iraq's Ministry of Construction and Housing, Project Iraq is the country's largest gathering for the construction, building materials, HVAC, and infrastructure industries. With 13 successful editions to date, it is a launchpad for innovation and a driver of the nation's ambitious development goals. Learn more: Media Contact: Muhammad Muaz
Shafaq News
07-03-2025
- Business
- Shafaq News
Iraqi MP unveils arrest of economic network leader
Shafaq News/ On Friday, Iraqi MP Hadi Al-Salami announced the arrest of what he described 'the leader of the largest economic networks'. In a post on Facebook, Al-Salami said, the convicted had been arrested at the Ministry of Construction and Housing's Urban Planning Authority. Al-Salami also shared a document detailing recent administrative changes at the Ministry of Construction and Housing, including the removal of Hamed Abdul Hamad as head of the New Cities Implementation Authority and his reassignment to assistant director-general of Hammurabi State Company, and Nahla Kamel Alwan was appointed as the new head of the authority. The term 'economic offices' emerged in Iraq after 2003 and is commonly associated with political parties in central and southern regions. Government officials affiliated with these parties often secure financial shares for their political entities through commissions from contracts and deals signed by ministries and state institutions. On February 12, the Parliamentary Investment and Development Committee hosted the head of the New Cities Implementation Authority to discuss challenges facing new urban projects. The committee stressed the need for transparency, addressing project obstacles, and accelerating government plans for infrastructure and housing development.
Iraq Business
25-02-2025
- Business
- Iraq Business
Iraq's Real Estate Bank Outlines Strategic Plan for 2025
By John Lee. The Real Estate Bank of Iraq has unveiled its strategic plan for 2025, focusing on expanding financial services, digital transformation, and green financing. Director General Abbas Shihab Al-Jawahiri chaired a meeting with department heads, branch managers, and unit officials to review progress in 2024 and set priorities for 2025. According to a statement from the bank, key achievements in 2024 include: 100% implementation of the POS electronic payment system across all branches and 6,000+ commercial outlets. Full deployment of the electronic collection service via mobile banking. Completion of the first phase of the mortgage automation project. Approval for the reconstruction and modernisation of bank-owned branches in coordination with the Ministry of Construction and Housing. Strategic Priorities for 2025: Eliminating annual interest on housing loans using recovered funds from 2023-2024. Introducing green energy loans for citizens purchasing sustainable energy systems. Enabling online applications for housing loans via the Ur platform. Enhancing banking operations across branches. Issuing Visa cards, following the acquisition of necessary licenses in 2024. Facilitating salary domiciliation for public and private sector employees with incentives. Expanding ATM deployment across key locations. Al-Jawahiri emphasised the importance of institutional development and continuous employee engagement to improve banking services. He praised the staff for their contributions and reiterated the bank's commitment to modernising Iraq's banking sector and supporting economic growth. (Source: Real Estate Bank of Iraq) Tags: banking, cg, featured, Real Estate Bank
Shafaq News
20-02-2025
- Business
- Shafaq News
Basra Water Project: Iraq completes 300-meter underwater tunnel
Shafaq News/ Iraq has completed a 300-meter underwater tunnel under the Great Basra Water Project, a key infrastructure step intended to improve potable water supply to the southern city, the Ministry of Construction and Housing revealed on Thursday. The tunnel, described as 'the first of its kind in Iraq,' is part of a broader project aimed at delivering reverse osmosis (RO)-treated drinking water to central Basra, a region long afflicted by chronic water shortages. Ammar Al-Maliki, Director of the General Directorate of Water, told Shafaq News that 'the tunnel represents the largest of eight river crossings built for laying water pipes beneath the riverbed.' 'Today marked the completion of one of the project's most critical phases, involving the execution of a 'water crossing' for laying pipes over a 300-meter distance vertically beneath the riverbed,' Al-Maliki noted. 'Upon final activation, the project will begin pumping treated water from the Hartha station to Basra's city center, with an official declaration of overall project completion expected soon.' Meanwhile, Nizar Nasser, Director of Basra Water, acknowledged that the project faced delays due to conflicts in northern Basra. 'The tunnel is now finished to a high standard following close supervision by the Ministry,' he told Shafaq News. Notably, the Great Basra Water Project was initially conceived in 2006, with a feasibility study conducted by Japan's Tokyo Engineering Consultant and financing provided by the Japan International Cooperation Agency (JICA).
