Iraq intends to pump nearly $25 billion in housing projects involving new cities and residential complexes within a post-war strategy to resolve a severe housing crisis, the head of the National Investment Commission (NIC) has said.

Some of the projects are similar to the 100,000-house Bismaya City near the capital Baghdad at a cost of nearly $7 billion, Haidar Makkiya said.

He told Iraqi News Agency on Sunday that the projects also comprise “The Baghdad District” at a cost of around $1 billion, adding that Saudi Arabia could also fund a $6-billion new residential city in Iraq.

“The total costs of the new housing projects announced recently by Prime Minister Mohammed Al-Sudani are estimated at about $25 billion,” Makkiya said.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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