KSA expresses readiness to complete construction of Bismaya complex
In a statement released today, the commission highlighted its ongoing efforts in the financing process of the Bismaya residential project. Chairman of the commission, Haider Mohammed Makiya, discussed collaborative measures with Saudi Minister of Investment, Khalid Al-Falih, to secure funding for the Bismaya project.
During the meeting, Makiya emphasized the importance of strengthening investment relations with the Kingdom of Saudi Arabia, particularly with the Ministry of Investment and the Saudi Investment Fund, as it is one of the world's major funds in determining financing paths for major strategic projects that serve citizens. He emphasized the significance of completing the residential units and their infrastructure within the Bismaya complex, as well as initiating the provision of top-notch services to its residents.
The Chairman of the National Investment Commission also referred to the priorities outlined in the Iraqi government's program, which include addressing the housing crisis and establishing major cities across all provinces of Iraq. He noted the seriousness of Prime Minister Mohammed Shia' Al-Sudani in finding solutions that cater to the housing needs of Iraqi citizens through agreements with investment companies and investors to establish residential complexes that meet their requirements.
On his part, Saudi Minister of Investment, Khalid Al-Falih, expressed his readiness to collaborate with the National Investment Commission to achieve a "success story" in the Bismaya complex, which stands as a significant investment landmark in Baghdad. This collaboration would follow a comprehensive study of the financial model to complete the project in its entirety or consider other residential complexes or new cities in Iraq.
The Bismaya residential complex, situated southeast of Baghdad, is approximately 10 kilometers away from the city's borders on the Baghdad-Kut road.
The Investment Commission opened registration for the complex on September 25, 2011, after contracting with the South Korean company, Hanwha, to construct 100,000 housing units within the Bismaya residential complex.
