Amanat Baghdad announced Wednesday (February 3rd) that the third phase of investment projects for the capital will launch soon, and will include a number of recreational, commercial, and housing projects.
Last year, Amanat Baghdad approved nine investment projects in the first phase and six projects in the second phase. The third phase will include more than 25 projects.
Baghdad's deputy mayor Naeem al-Kaabi told Mawtani, "The municipality will soon announce the third phase of investment projects, which will include the construction of shopping malls, commercial buildings, housing complexes, multi-story garages, five-star hotels, floating restaurants, recreational and tourist facilities, as well as infrastructure projects."
Al-Kaabi added that projects signed and agreed on during the second phase will also begin this year.
"More than 30 local and international companies have applied for investment projects within the second phase," al-Kaabi said. "They include four investment companies that applied for building housing complexes in the area of al-Dabbash, two companies for the project of building an integrated park like al-Zawraa Park on 1,000 dunams of land to the north of al-Shaab area, and two other companies that applied for building a series of floating restaurants in al-Azamiyah and Abu Nawas."
Three other companies applied for investing in a multi-story garage in al-Karkh near the Public Retirement Circle. It is on a 2,745 square-meter space and can accommodate about 1,200 cars, according to al-Kaabi. The first and ground floors, as well as the river façade, can be used for commercial offices.
In addition, two companies applied to construct al-Adl neighborhood park (63 dunams), which will include a number of recreational and commercial facilities.
Hakim Abdul-Zahra, official spokesperson for Amanat Baghdad, said in an interview with Mawtani, "There are dozens of important projects for which land has been allocated by Amanat Baghdad or for which the Ministry of Finance has given permits and sent to the National Investment Authority or Baghdad Investment Authority."
"Amanat Baghdad decided to launch the investment projects in the form of phases in order to ensure high transparency and serious and real competition between all investors," he added.
"The projects for building housing units that were announced by Amanat Baghdad, and which will be announced later within the third phase, will help solve a large part of the housing crisis," Abdul-Zahra said. "This is in addition to major urban projects, such as the building of five-star hotels, shopping malls, and recreational and tourist facilities."
Meanwhile, head of Baghdad Investment Authority (BIA) Shakir al-Zamily said in an interview with Mawtani, "BIA has investment approvals for about 70,000 housing units in different areas across Baghdad. BIA will coordinate efforts with the departments concerned in order to complete the allocation of land and overcome all obstacles impeding investors."
"BIA, in cooperation with Amanat Baghdad and the province, seeks to build many tourist investment projects that will serve the people of Baghdad," he added. "Amanat Baghdad has several housing projects, including the Future Project west of al-Ghazaliyah and al-Rasheed Camp housing projects, as well as other projects."
Al-Zamily said citizens of Baghdad will "within the next months feel the results of BIA movements in attracting different investments, in the wake of the different meetings held with foreign companies and local and foreign investors."
PHOTO: [Ali al-Saadi/AFP/Getty Image] More than 25 new construction and investment projects will be launched soon in Baghdad.