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70,000 houses to be constructed Iraq is trying to secure loans to fund the remaining part of Bismaya City after it ended a financial dispute with the contractor Hanwha of South Korea. In comments published by the Iraqi News Agency on Monday, Chairman of the National Investment Commission Haidar Makkieh said Hanwha has built 30,000 houses and the remaining 70,000 units would be constructed at an annual rate of 10,000 houses. “Construction of the new units would be funded through internal or foreign loans…contacts are under way for this purpose,” he said. Officials said in early 2024 Hanwha has agreed to resume work on Iraq’s largest housing project after signing a deal ending a rift caused by government defaulting on its dues. |
