17 September 2019
The mixed-use Zaytoun Tower project, scheduled to come up on the grounds of the Baghdad International Fair, is awaiting approval from Baghdad Municipality to start construction, the head of Baghdad Investment Commission (BIC) said.
Shaker Al-Zamili told Thomson Reuters Projects that the project's approval is delayed due to "municipality's objections to the project's scheme."
He said the 39-storey project includes commercial, retail, office and entertainment units and a multi-storey car park.
The BIC head said the project had been approved by his organisation and an agreement signed with the exhibitions department of Ministry of Commerce, which owns the land.
"Work will start once Baghdad municipality gives final approval and the project will be completed in four years," he noted.
He said the project is expected to benefit from its location in the heart of Baghdad and close proximity to trade and entertainment centres, adding that it would also house a shopping centre, display spaces for companies, a cinema, food and beverage outlets and international restaurants.
(Reporting by Majda Muhsen; Editing by Anoop Menon)
Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal
© Thomson Reuters Projects News 2019