Baghdad to set up a million-unit residential project
A new city in Iraq. Photo: INA
Baghdad (IraqiNews.com) – An Iraqi official revealed on Wednesday that the government is planning to set up residential complexes that will provide one million housing units, like the new city of Bismayah New City Project (BNCP).
The spokesperson for the secretariat of the Iraqi council of ministers, Haider Majeed, told the Iraqi News Agency (INA) that the National Investment Commission (NIC) developed plans to set up residential complexes.
According to Majeed, the goal of the NIC’s vision is to construct residential communities in many governorates that are modeled after the Bismayah New City Project (BNCP) to provide one million units to middle-class citizens.
The BNCP was planned to construct a new city 10 kilometers southeast of Baghdad, where it would include 108,000 housing units on an area of 18.3 square kilometers.
In 2012, South Korea’s Hanwha Engineering & Construction Corporation began work on the massive project, which was estimated to cost $12.12 billion.
The project implementation rate has reached 40 percent so far, as more than 100,000 people are currently living in the 30,000 completed housing units.