06 Oct 2012
(MENAFN) Bloom Properties, an Abu Dhabi-based master developer, and Dubai’s Damac Properties have signed agreements with the Iraqi Ministry of Construction and Housing to get involved in real estate projects in the country’s rebuilding projects, Arabian Business reported.
The agreements with Damac and Bloom follow a similar deal between the Iraqi government and Dubai’s Emaar Properties earlier this month.
Bloom will participate in the construction of commercial and residential units, in addition to schools and sports clubs for Iraqi government entities, the company said in a statement.
As for Damac, it was already given two plots of land in Baghdad, and it will provide expertise on a number of residential and commercial projects in the capital and the surrounding region.
Earlier this year, Bloom was appointed as master developers for a project in the Karbala province including 40,000 houses, schools, universities, clinics, hospitals, mosques, retail outlets, sports fields, recreational centres, gardens, parks, hotels and hotel apartments.
Iraq needs about 2 million new housing units to tackle its chronic housing shortfall. The government has allocated USD2 billion for infrastructure and housing spending in budget 2013.
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more