BAGHDAD -- The Baghdad city government has unveiled a multibillion dollar plan to build 120,000 housing units in the Iraqi capital in an effort to resolve a housing shortage, RFE/RL's Radio Free Iraq (RFI) reports.
Baghdad Provincial Council Chairman Kamil al-Zaydi told RFI that Baghdad needs more than 800,000 units to fulfill demand. He added that the project envisages three townships in the Baghdad suburbs, the largest with about 60,000 housing units and the smallest with about 20,000 units.
Baghdad investment commission spokesman Thaer al-Faili told RFI that United Arab Emirates-based Bloom Properties was awarded the contract to build a 40,000-unit complex called "Town of the Future" in southwest Baghdad. He added that the developer has agreed that a certain percentage of the housing units will be sold to low-income owners at affordable prices.
Bloom Properties' Ahmad Khalaf told RFI that talks were held with the local Baghdad government on projects aimed at low-income families. The project is expected to take at least eight years to build.