Iraq will announce six new residential cities as investment opportunities soon, a spokesperson for the Iraqi Ministry of Construction and Housing said.

Nabil Al-Saffar told the Iraqi News Agency (INA) that the ministry has awarded five residential cities under the investment route, namely Al-Jawahiri in Baghdad, Al-Ghazlany in Mosul, Dhefef in Karbala, Al-Janaen in Babylon and Ali Al-Wardi in Baghdad.

He said six new residential cities will be offered as investments soon but didn’t share timelines, locations or other details.

Hasan Abdullah, Chairman of UAE-based Marya Group told the INA that he has proposed investments totalling $10 billion in residential projects to the Prime Minister Muhammad Shiaa Al-Sudani.

"We are interested in building five to 10 residential cities in Iraq offering 370,000 housing units in total," he said.

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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