Friday, July 11, 2014

UAE developers unveil $4.5B Baghdad project

September 18. 2013 9:40AM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) Two developers based in the United Arab Emirates say they have signed a deal for a $4.5 billion residential and commercial project in Baghdad that would be one of the county's biggest non-oil investments.

Plans calls for 30,000 housing units, five shopping centers and schools and stores to be built over a seven-year period in the Iraqi capital.

Foreign investment has flowed into the relative stable Kurdish region of northern Iraq, but other areas such as Baghdad have lagged far behind because of ongoing violence.

The developers, Dubai-based Al Handal International Group and Abu Dhabi-based Bloom Properties, said Wednesday the project is expected to create 10,000 jobs for Iraq's struggling economy.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds