Iraq will announce this month the results of a tender involving the construction of an 800-unit housing project for members of the representative council. The estimated cost of the project has been put at around USD 350 million, a source at SIAC Industrial Construction and Engineering Company of Egypt told Zawya.
"SIAC is currently awaiting the results of the proposals submitted by the bidding companies. We expect these to be announced by the government upon the ratification of the general budget," said Mohamed Mahmoud, business development manager at SIAC Iraq.
The project will involve the construction of 800 housing units, which are to be divided into two buildings - one comprising 16 floors and another with eight levels. Mahmoud said SIAC submitted its bid in December 2012, together with three other companies including Arab Contractors of Egypt and Al Habtoor Group of the UAE.
Dr. Ahmed Al Atwani, professor of economics at the University of Wasit, said the housing development will provide better quality homes in the country.
"It would also positively contribute to resolving the housing problem in Iraq, which requires in excess of two million units until 2015," he said.
© Zawya 2013
