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Iraq intends to negotiate with developers and investors for the construction of new residential cities as part of a drive to tackle a festering post-war housing crisis, the official news agency reported on Wednesday.
The negotiations will be conducted by a new government team that will group officials from the Housing and Construction Ministry and other departments, it said.
Iraqi Prime Minister Mohammed Al-Sudani ordered the creation of the team at a meeting held on Tuesday to discuss the housing crisis, the agency said.
The team, which will be announced shortly, will “plan and oversee” the construction of new residential cities in the OPEC member and will also facilitate procedures for investment in such projects, the report said.
“The team is also empowered to negotiate with developers and investors in Iraq and other countries for the construction of infrastructure and related projects in those cities,” it added.
Developers seeking to invest in such projects can send applications to the team which “will study the offer and determine its feasibility before referring it to the investment commissions in the governorates for a final decision,” according to the report.
(Writing by Nadim Kawach; Editing by Anoop Menon)
