Iraq Signs 100,000-Home Contract With Hanwha
According to a report from Bloomberg, Iraq has signed the contract with South Korea’s Hanwha Engineering & Construction to build 100,000 residential units in Baghdad.
Salah Abdul Razzaq, Baghdad’s governor, said more than 30,000 people are registered for the units so far, adding that the project will secure 100,000 jobs.
Previous reports put the value of the contract at $7 billion.
Abdul Razzaq said the Iraqi parliament may soon approve $2 billion worth of projects for the Housing Ministry to build residential units.