NIC Opens Center for Bismayah Housing Project

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The National Investment Commission (NIC) has opened a center for the Bismayah New City project at the Baghdad International Fair. It will receive citizens registered and wishing to register for housing units in the project for the three sizes of housing unit: 100 m², 120 m², and 140 m².
NIC Chairman, Dr. Sami Raouf al-Araji said that the NIC agreed with the State Company for Iraqi Fairs to open a special center to receive the registered and wishing to register Iraqis for Bismayah new City project starting on Sunday, and under the supervision of specialists from the NIC and experts from the Hanwha company to answer all inquiries directed by the visitors, as well as registering new appliers and signing the housing unit contract after the payment of (25%) of the value of the housing unit to the branches of the three banks (Rafidain, Rasheed, and TBI) previously announced through the NIC official website.
He added that the NIC provided an opportunity for those wishing to register for the housing units of Bismayah New City project through their visit of the registration centre in Baghdad International Fair providing the required documents and to review the models of the housing units that will be implemented for the three surface areas, mentioning that the official working hours at the center is from 9:00 am to 6:00 pm seven days a week.
NIC Chairman said that (65%) of the amount of the housing unit is to be paid in the form of premiums for a period of (15 years) of (3%) interest with grace periods that reach up to (4.5) years, while the remaining (10%) is to be paid in cash upon receipt of the housing unit. The priority in the receipt of the housing units is to those who pay the amount at once or pay the premium within the less grace period which is (6 months) Noting that the price per square meter is (630 dollars) that the price of the housing unit area (100 m 2) is ($ 63,000), (120 m 2) is (75,200 dollars), while (140 m 2) is (88,200 dollars).
Worth mentioning that the NIC and under the auspices of the Prime Minister, Mr. Nuri Kamal al-Maliki had laid down the foundation stone for Bismayah New City project for building (100) thousand residential units of integrated services last Wednesday 30/5/2012, which is considered as the largest housing project in Iraq and part of the Baghdad’s share of $ (224 thousand residential units) of the project to build one million housing units throughout Iraq adopted by the NIC.
(Source: NIC)