Iraqi government plans ambitious million-unit residential project
An Iraqi official disclosed the government’s intention to initiate residential complexes aimed at delivering a staggering one million housing units.
Drawing inspiration from the Bismayah New City Project (BNCP), Haider Majeed, the spokesperson for the secretariat of the Iraqi council of ministers, informed the Iraqi News Agency (INA) about the National Investment Commission’s (NIC) comprehensive plans for these residential developments.
Majeed explained that the NIC envisions constructing similar residential communities across multiple governorates, mirroring the BNCP model, with the primary objective of providing one million units specifically designed for middle-class citizens. The BNCP, situated 10 kilometers southeast of Baghdad, was designed to encompass 108,000 housing units over an expansive 18.3 square kilometers.
Commencing in 2012, the colossal project enlisted the services of South Korea’s Hanwha Engineering & Construction Corporation, with an estimated cost of $12.12 billion.
Currently at a 40 percent implementation rate, the BNCP has seen the completion of 30,000 housing units, accommodating over 100,000 residents. The government’s ambitious plan signifies a commitment to addressing the housing needs of the middle-class population in multiple regions of Iraq.
