PROJECTS: Iraq to offer former presidential palace to investors

Project comprises hotel and business centre

  
Image used for illustrative purpose. A general view of Firdos Square, one of the main squares of Baghdad April 29, 2014.REUTERS/Ahmed Jadallah

Image used for illustrative purpose. A general view of Firdos Square, one of the main squares of Baghdad April 29, 2014.REUTERS/Ahmed Jadallah

REUTERS/Ahmed Jadallah

Iraq intends to invite bids for a project to turn a former presidential palace in Central Baghdad into a hotel, a museum and a business centre, the official Arabic language daily Alsabah said on Tuesday.

Al-Sijood Palace, to be offered as an investment, is located on the West Bank of Tigris River in the Green Zone and belonged to late President Saddam Hussein, the paper said, quoting Saad Al-Isawi of the National Investment Commission (NIC).

"We are planning to offer this palace as an investment opportunity to turn it into a hotel, a museum and a centre for local and foreign businessmen," he said, adding that the project would provide 1,500 jobs to Iraqis.

Isawi did not mention project costs but said NIC has drafted plans to offer other former presidential palaces to investors, including Faw Palace near Baghdad Airport for the construction of an American University that also includes 200-bed hospital.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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