New $249m Housing Deal in Diwaniya
Bloomberg reports that Iraq’s Kayar Group and Jawaharat Alrawabi have signed a $249 million (290 billion Iraqi dinar) contract to build 3,827 housing units in the south of Diwaniya city.
Ahmed Hisham, president of the Diwaniya Investment Commission told the agency:
“We are also styuding designs for other companies to build 15,000 residential units. Some of these companies are from the UAE, Italy, Brazil and Iraq.”
The project is to be completed within three years.
In March 2010, the government approved plans to build 1 million housing units by 2014 for lower- and middle-income families to help solve the housing shortage.