Housing project in oil hub Basra

* Project includes 2,500 housing units

* Iraq needs 2-3 million housing units

BASRA, Nov 4 (Reuters) - U.S. engineering firm World Solutions International (WSI) unveiled a $220 million contract to build 2,500 housing units in Iraq, which is battling a housing shortage and in desperate need of investment.

The engineering and construction company, based in Maryland in the United States, said on Thursday the units would include flats and villas and be built on 200 acres on the outskirts of Basra, 420 km southeast of Baghdad.

"The start of this project is a big success and the fruit of long and exhausting efforts. We are interested in investing in Iraq generally and in Basra particularly," said Aydan al-Jbory, WSI projects manager in the Middle East.

Each flat would be sold for $55,000, while villas would be available for between $300,000 to $400,000, Jbory said.

Construction in Iraq has been hampered by red tape and security concerns since the 2003 U.S.-led invasion. The government hopes a sharp fall in violence in the past two years from the height of sectarian warfare, and a new investment law allowing foreigners to own land for housing projects, will entice foreign developers.

Iraq faces an acute shortage of houses after years of wars and sanctions. It needs between 2-3 million new homes for its growing population.

"The project is one of three housing projects which will provide Basra with 12,000 housing units," said Haider Ali Fadhel, the head of Basra's investment commission.

Fadhel said a second housing project for $240 million had been granted to a Lebanese firm and would be launched next week.

The third project, which includes the building of 5,000 housing units for $938 million, has been awarded to an Iranian firm and is pending approval by the Iraqi cabinet. (Reporting

We shall see if this WSI-International is a real company or just a shell. Their contact person in Amman is Amal Taha... I wonder if its the one tonne actress?

here's some render from their website.
http://wsi-global.com/images/bus1.jpg


here's a list of their projects from their website. http://wsi-global.com/projects.php

Land Development
• Cheongsong Cultural Welfare Town
• Sangju Bicycle Museum
• Incheon Haesong High School
• Ipseok-Dong Housing Reconstruction Maintenance Project
• Sunchang Health-Longevity Research Institute
• Yeungjin College Bokhyeon-dong Campus Dormitory

B. Water Treatment Plants and Water Distribution Systems
• Al Nassar Potable Water Distribution System, Karbala
• Hai Al-Nasr Potable Water Distribution System, Karbala
• Karkh Water Treatment Plant Rehabilitation, Baghdad
• Iraqi Military Base Potable Water Distribution System, Habbinayah
• Water Treatment and Storage Facility, Ramadi

C. Sewage Treatment Plants
• Karbala Sewage Pumping Station, Karbala

D. Storm Water Systems
• Sixth Stage City Storm Water System, Karbala

E. Buildings and Vertical High Rise Structures
• Hai Al-Hussein Primary School, Karbala
• Rehabilitation of Four Intermediate Schools, Karbala
• Karbala Bureau of Trade Building, Karbala
• Al Alwayia Children Hospital Rehabilitation, Baghdad
• Construction Services Building MWR-001, Habbinayah
• Troop Command Facilities and Barracks, Ramadi

F. Security
• Multi-Location Guard Towers, Perimeter Fencing, Lighting, and Facility Hardening, Habbinayah
• Concrete Reinforced and Hardening Personal Structures, Ramadi

G. Industry Structures and Units
• Thermal Power Plant Rehabilitation, Karbala
• Design/Build Mobile Cold Storage and Ice Manufacturing Unit, Baghdad
• Rolling Steel Mill Factory, Baghdad
• Incinerator Installation at Sixteen Hospitals
• Iraq Military Fuel Storage and Depot, Habbinayah

H. Power Generation and Distribution Units
• Power Generation Plant and Electrical Distribution, Habbinayah
• Electrical Supply and Distribution, Habbinayah
• Emergency Power Portable Supply and Distribution, Kirkuk
• Electrical Distribution and Power Control Center, Ramadi

I. Airport Construction
• Digital Airport Surveillance Radar, Kirkuk
• Auto Trac II Facilities/Antenna Tower, Kirkuk

finally some affordable housing...

oh god, please let this be a real project !!!

BTW, project is 2500 units, not 12k.. 12,000 is the combined number of housing units that the Basra investment commission is aiming for (for several independent projects)

yes I know that 12k is the total. I will use this thread to keep track of all three sub-projects.

The apartment prices are certainly affordable. but the houses are ridiculous.

who's going to pay 400 grand cash? are there home loans in iraq now?

there are mortgages for state employees and farmers of up to $40k. So the only affordable housing are the apartments. $40k mortgage + $15k deposit.

I am guessing that the number of villas will necessarily be small and will be aimed at the elite, foreign contractors, and returning iraqis from abroad.

400k can land you a reasonable (smallish) house in most cities in Europe, Australia / NZ, USA etc.. I don't know who's willing to buy a house in Iraq for that amount of money..

bigderamer I guess you haven't seen the real estate market in Iraq lately? there's some mad money being thrown around (but only for premium areas and properties).

we don't yet know the breakdown of these properties... but I would hazard a guess that this developer would built around 2200 apartments and 300 villas... which would sell ok.

yeah in some articles ive read it talks about how people are willing to spend 700k on houses in baghdad, some even go for 1.5 million in good areas

Sheytan I have a feeling these will be aimed for foreign oil workers

yes. just like the new mall being funded by the italian oil company ENI... lets hope that basrawis are allowed to visit at least :D

oh god, please let this be a real project !!!


:lol: My thoughts exactly.

We shall see if this WSI-International is a real company or just a shell. Their contact person in Amman is Amal Taha... I wonder if its the one tonne actress?

here's some render from their website.
http://wsi-global.com/images/bus1.jpg


here's a list of their projects from their website. http://wsi-global.com/projects.php

Land Development
• Cheongsong Cultural Welfare Town
• Sangju Bicycle Museum
• Incheon Haesong High School
• Ipseok-Dong Housing Reconstruction Maintenance Project
• Sunchang Health-Longevity Research Institute
• Yeungjin College Bokhyeon-dong Campus Dormitory

B. Water Treatment Plants and Water Distribution Systems
• Al Nassar Potable Water Distribution System, Karbala
• Hai Al-Nasr Potable Water Distribution System, Karbala
• Karkh Water Treatment Plant Rehabilitation, Baghdad
• Iraqi Military Base Potable Water Distribution System, Habbinayah
• Water Treatment and Storage Facility, Ramadi

C. Sewage Treatment Plants
• Karbala Sewage Pumping Station, Karbala

D. Storm Water Systems
• Sixth Stage City Storm Water System, Karbala

E. Buildings and Vertical High Rise Structures
• Hai Al-Hussein Primary School, Karbala
• Rehabilitation of Four Intermediate Schools, Karbala
• Karbala Bureau of Trade Building, Karbala
• Al Alwayia Children Hospital Rehabilitation, Baghdad
• Construction Services Building MWR-001, Habbinayah
• Troop Command Facilities and Barracks, Ramadi

F. Security
• Multi-Location Guard Towers, Perimeter Fencing, Lighting, and Facility Hardening, Habbinayah
• Concrete Reinforced and Hardening Personal Structures, Ramadi

G. Industry Structures and Units
• Thermal Power Plant Rehabilitation, Karbala
• Design/Build Mobile Cold Storage and Ice Manufacturing Unit, Baghdad
• Rolling Steel Mill Factory, Baghdad
• Incinerator Installation at Sixteen Hospitals
• Iraq Military Fuel Storage and Depot, Habbinayah

H. Power Generation and Distribution Units
• Power Generation Plant and Electrical Distribution, Habbinayah
• Electrical Supply and Distribution, Habbinayah
• Emergency Power Portable Supply and Distribution, Kirkuk
• Electrical Distribution and Power Control Center, Ramadi

I. Airport Construction
• Digital Airport Surveillance Radar, Kirkuk
• Auto Trac II Facilities/Antenna Tower, Kirkuk



Strange how this website has the same list of websites and the name is also "WSI"... http://wadi-sawa.com/projects.html

:ohno:

looks like a fake project to me... more bluffing!

very good find Roscoefriend! I wonder when this thread gets relegated to the scam projects list.

It's indeed suspicious. well, the company is completely unknown to anyone. that alone is suspicious to me.

having said so, it is possible for a company to have 2 genuine websites, that could be the case here..

BTW, if you discover any scams, who in baghdad/basra are you suppose to contact anyways?

Surely there must be a way to propagate things like this to the authorities / media ?!

there's an anti corruption helpline :D

you could also inform the national investment commission, here's their feedback form, but don't expect anyone to read it. http://www.investpromo.gov.iq/index.php?id=20

you could call up al fayhaa TV station during one of their myopic "reconstruction" shows?

you could tell the iraqi political parties / ministers about the "scam projects" thread on SSC... and see if any of them:
1- know enough english (in spite of living in the UK/US for 20+ years)
2- know how to use a computer/internet
3- would actually care

to actually check it out :D

there's an anti corruption helpline :D

you could also inform the national investment commission, here's their feedback form, but don't expect anyone to read it. http://www.investpromo.gov.iq/index.php?id=20

you could call up al fayhaa TV station during one of their myopic "reconstruction" shows?

you could tell the iraqi political parties / ministers about the "scam projects" thread on SSC... and see if any of them:
1- know enough english (in spite of living in the UK/US for 20+ years)
2- know how to use a computer/internet
3- would actually care

to actually check it out :D
:rofl:

This point is so true ! I find it extremely baffling that Ayad Allawi, a doctor who lived in the UK since early 70s (also studied at the University of London), still struggles to formulate simple English phrases with the correct grammar ! :lol:

Just got an inside source news on this project.

The project is on hold because Iraqi officials are demanding $50M in bribes and the company is not willing to pay. They are waiting for the formation of a new government to help resolve the issue without paying the bribes.

What a horrible people these bastards are, we are hungry but they only look after themselves, are there anyone who atually cares for his people

Just got an inside source news on this project.

The project is on hold because Iraqi officials are demanding $50M in bribes and the company is not willing to pay. They are waiting for the formation of a new government to help resolve the issue without paying the bribes.

Did anyone inform the police/ media (anyone for god's sake!)

Is there a proof for this.. or rumors ?

here's a different project from Basra.

Basra Investment Commission granted an investment license for the first phase of establishing a residential complex by the Iranian company Sazman Imran Kerman.


The cost of the project reaches to 226296250 $, and the completion period of the project reaches to 5 years.
The first phase of the complex involves the following projects:
1- The implementation of 470 residential villas of three different types of designs which is to implement the 400 housing units of the first type and the second type and the implementation of 70 units of the third type.

2- The construction of residential buildings , this includes the implementation of 20 residential buildings, each one consists of 12 floors in addition to the ground floor and three stories , basement and 6 apartments for each floor.
3- The infrastructure and services provided with the project, which include scheduling and preparing the land and the implementation of a road network and the network channels for water and sewage and trash pickup and processing as well as the implementation of the high and low electricity power network and telecommunications.
4- The feasibility study, which includes the following:
The cost of construction of the villas and apartment buildings per square meter is (500 $).
The cost of the basement for the residential buildings per square meter (300 $).
Total cost of the project at this stage (226296250 ($ .
5- The revenues, which include the following:
Cost of sales in the residential buildings and villas per square meter is (1000 $$).
Total return for the sale of (273410000 $).
Total profit (47113750 $).
This license has been granted after consultation, study and discussion by BIC staff and the related departments with the investor, and the BIC facilitated all the procedures related to the license.
http://www.investbasrah.com/images/stories/Articles/Sazman-Kerman/1.jpg
http://www.investbasrah.com/images/stories/Articles/Sazman-Kerman/2.jpg
http://www.investbasrah.com/images/stories/Articles/Sazman-Kerman/3.jpg




The Iranian company Sazman Kerman Ommran got a license from (BIC) to the second phase of the residential project submitted by the company.

The approximately cost of this phase 455$ million this need five years to finish which is consist of residential building, villas and commercial complexes.
40 building of (16-18) floor the area is about (3000-3500)m2 for one building and (140)m2 for one apartment along with 470 villa the area of each is approximately (140) m2
In additional to eight commercial advanced centers that will construct on (50,000)m2.

http://www.investbasrah.com/images/stories/Kerman/5.jpg

:rofl:

This point is so true ! I find it extremely baffling that Ayad Allawi, a doctor who lived in the UK since early 70s (also studied at the University of London), still struggles to formulate simple English phrases with the correct grammar ! :lol:

fraud, who says he really studied ;)

The ministry of Municipalities and Public Works has agreed on Wadi Sawa investment projects to construct about 2000 residential units in a cost of 220 million dollars and on an area of 52728 acres to the west of the sport city.
The chairman of BIC said that this huge project will have various economical and general services; it will include 150 villas, 700 houses, 13 floors residential buildings (11 building) and 5 floors buildings ( a total of 572 apartments).
He added that," The investing company will be responsible for the implementation of all the infrastructure services of the project as well as the coordination with all the related directorates". He said that BIC will address the municipality of Basra so as to sort the land allocated for the project in addition for all the required approvals to start the project.

Is this project implemented ?

no idea... can someone in basra tell us?

status changed to ON-HOLD until we know more..