Introducing the New Real Estate Developer Initiative in Iraq
The Iraqi Prime Minister, Mohammed Shia Al-Sudani, has unveiled a groundbreaking initiative to provide residential property plots with utilities included. This initiative, known as the Real Estate Developer project, aims to offer affordable housing options for all Iraqi citizens, specifically targeting low- and middle-income groups.
During his visit to Wasit, Al-Sudani announced two major projects: the Wasit Residential City with 30,000 plots, and the Kut Residential Gate project with an integrated residential complex and 15,000 plots. These projects align with the government’s vision to address housing challenges in Iraq by creating integrated cities that offer all necessary services and amenities.
Since taking office in October 2022, the current Iraqi government has granted licenses for approximately one million housing units. The development of residential cities is expected to stimulate a national industry that can meet the demand for building materials in the local market.
This initiative marks a new chapter in Iraq’s real estate sector, offering hope and opportunities for many Iraqi families in need of stable and affordable housing options.
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