Low cost housing in Iraq

[Sinjar]

Yea it's weird that the country involved in the project is kept secret..

[Ali - Iraq]

Or maybe the country is from an unknown place!

[sheytanElKebir]

could be iranian LOL!

[Zirhlioglu construct]

I have several questions, those are about housing projects.

1) how much time you have to start to the project after you get the license, is there any specific time limit that government take your license back if you don't start to the project? If there is any, does this time limitation start from the date you stated that you will start or the date you get the license.

2) how much time you have to finish the project after you get started to the project?

3) how many percentage of the project has to be completed in order to earn ownership of the land.

4) For example, an Iraqi company get a license and land allocated to this company, can the company pass his all rights to foreigner company on the land and licence.

Best regards
Best regards
Onur SEKERLISOY

[sheytanElKebir]

Originally Posted by Zirhlioglu construct

I have several questions, those are about housing projects.

1) how much time you have to start to the project after you get the license, is there any specific time limit that government take your license back if you don't start to the project? If there is any, does this time limitation start from the date you stated that you will start or the date you get the license.

2 years from awarding the "investment licence"

2) how much time you have to finish the project after you get started to the project?

each project is unique. depends on what is specified in the investment licence.

3) how many percentage of the project has to be completed in order to earn ownership of the land.

In Iraq you cannot own the land, only get leasehold.

4) For example, an Iraqi company get a license and land allocated to this company, can the company pass his all rights to foreigner company on the land and licence.

I don't know about this. You need to consult with an Iraqi commercial lawyer regarding this topic.

Best regards
Best regards
Onur SEKERLISOY

best regards Onur.

[Zirhlioglu construct]

Thank you for information.
I have one more question, for example your time limit is 5 year in investment licence, does the 2 year included in that time or your 5 year start after begin to construction. For example you get the licence you waited for one and a half year to start, is your remaning time 3.5 year or is it still 5 year after you start.

[Euphrates]

Maybe you'll find this useful:

http://www.investpromo.gov.iq/index.php?id=9

Edit: also this :

http://www.imariskan.gov.iq/index_en.htm

[sheytanElKebir]

Onur. It really depends on the project and on the province in which the work is carried out. Note that each province will have slightly different rules/procedures/leniency with regards to investors and the time that is allocated. It is also possible to renegotiate some terms if they are unrealistic, once again that depends on which of the provincial investment commissions you are dealing with.

The only concrete information would be through a VERY GOOD lawyer that you need to find in Iraq to help your company navigate the maze of byzantine rules and "ad hoc" (for want of better word) regulations!

[Zirhlioglu construct]

Thank you for all info. İ have one last question. My iraqi partners who get the investment license and the land, claims that they have Bern spent 4.2 million dolar for taxes legal fees and bribery. İs that amount normal? Land is 194000 m2 and 1632 houses Will be constructed on it. İ have time until tomorrow to pay this money, what do you suggest?

Thank you

[Ali - Iraq]

Iraq launches drive to stem massive housing crisis
Investment commission chief says Baghdad needs 750,000 new homes to make up for massive housing shortfall.


Middle East Online

Around 57% of urban population lives in slum-like conditions

BAGHDAD - Baghdad needs 750,000 new homes to make up for a massive housing shortfall, Iraq's investment commission chief said on Sunday as he called for bidders for a new property development project.

Iraq is aiming to build one million new homes in the coming years, including a vast construction project southeast of Baghdad that officials hope will provide new housing for 600,000 people.

"Baghdad now needs 750,000 more homes," Sami al-Araji told reporters.

Araji called for bidders for a new housing development project at a former Iraqi army military camp known as Al-Rasheed in southeast Baghdad.

The area is currently home to a small Iraqi army base, as well as a refuse dump where poor families have built make-shift accommodation.

Araji hopes that up to 70,000 apartments and 5,000 independent houses will eventually be built there, along with sports and entertainment facilities, shopping and medical services.

After decades of war, sanctions and under-investment, Iraq is experiencing a major housing shortfall, and the difficulty in finding a home was one of the reasons protesters demonstrated nationwide last year.

Around 57 percent of Iraq's urban population lives in "slum-like conditions", according to a report published by the United Nations in 2011.

The report noted that 13 percent of houses in urban areas have more than 10 people living in them, with 37 percent holding three or more people per room.
http://www.middle-east-online.com/english/?id=53506

[Ali - Iraq]

محافظة ميسان تشهد قريبا افتتاح مجمعيين سكنيين بكلفة 40 مليار دينار لكل منهما
أعلن وزير الاعمار والاسكان محمد صاحب الدراجي أن محافظة ميسان ستشهد انجاز مجمعين سكنيين خلال العام الحالي هما مجمعا ميسان1 و ميسان2 بكلفة 40 مليار دينار لكل منهما.
وقال الدراجي انه سيتم انشاء مجمعين سكنيين في نيسان خلال هذا العام ، الاول يضم 50 عمارة سكنية بمجموع 504 شقة سكنية وقد صُممت هذه العمارات وفق نموذجين من العمارات السكنية ، هذا وذكر الوزير ان نسب الانجاز في هذا المشروع وصلت الى 94 بالمائة وبكافة خدماتها الى ذلك اعلن محافظ الديوانية سالم علوان عن المباشرة بتنفيذ مشروعين لشبكات الصرف الصحي بكلفة إجمالية تبلغ أكثر من تسعة مليارات دينار
http://www.alfayhaa.tv/news/economy/85671.html

[sheytanElKebir]

Originally Posted by Zirhlioglu construct

Thank you for all info. İ have one last question. My iraqi partners who get the investment license and the land, claims that they have Bern spent 4.2 million dolar for taxes legal fees and bribery. İs that amount normal? Land is 194000 m2 and 1632 houses Will be constructed on it. İ have time until tomorrow to pay this money, what do you suggest?

Thank you

he is lying. don't pay it.

I mean how much profit will you make on 1600 houses? $10k per house (optimistically)? that's $16M.. so he wants you to give him a quarter of that amount upfront for "legal and bribes"? nonsense.

There are lots of investment opportunities in Iraq if you have the capital and capacity to build and without having to pay anyone $4M for "unnacountable" reasons.

[sheytanElKebir]

ministry of construction and housing list of projects..

http://www.imariskan.gov.iq/view_projcets.php?start=10

[BigDreamer]

housing for orphans in ThiQar (philanthropy project) :

[Sinjar]

Iraq offers citizens thousands of home loans

2012-12-03 By Khalid al-Taie in Baghdad


Workers rest near homes under construction in Baghdad. [Mohammed Khodur/AFP]

Since 2011, the Iraqi Housing Fund has more than doubled the number of housing loans it has approved, bringing the total to about 39,000, officials said.

The fund, initially founded in March 2005, granted about 18,000 housing loans to Iraqi citizens before it was officially ratified under Law No. 32 of 2011, the fund's general director Burhanuddin al-Bassam told Mawtani.

Since then, "we made a major leap in the number of loans approved", he said, adding that since the new legislation came into effect, around 21,000 new loans have been granted.

"In previous years we processed dozens of citizens' applications for loans every day," he said. "But now, the numbers range between 700 and 800 applications and up to 2 billion dinars ($1.6 million) in loans every day."

Every year, the government uses as much as 200 billion dinars ($170 million) from the approximately trillion-dinar housing fund ($858 million) to cover the cost of loan applications and help citizens with limited income build their own housing units.

"We set our ambitions to provide citizens with 25,000 loans or more per year, to proactively participate in national efforts that aim to end the housing crisis", said the fund's deputy general director, Ali Hussein.

Before the ratification of the housing law, loan amounts ranged between 18 million dinars ($15,500) and 25 million dinars ($21,500), he told Mawtani. After the law's enactment, the ceiling was raised to 35 million dinars ($30,000) for Baghdad residents and 30 million dinars ($25,800) for those living in other provincial centres, and in districts and sub-districts.

Officials submitted a proposal to the government that seeks to increase loan amounts to 50 million dinars ($43,000), he said, in order to enable applicants to meet the expenses associated with building their housing units.

A 'VITAL SECTOR'
The fund's responsibilities also extend to partnership in financing housing projects carried out by local and foreign investment companies throughout the country.

"This year, we took part in financing 15 housing compounds, including two in the al-Ameriya and Tajiyyat areas of Baghdad comprising 2,000 housing units," Hussein said. "The rest of the compounds were scattered throughout most provinces, with the numbers of housing units in each ranging between 300 and 20,000 units."

Hussein said work on some compounds has already begun, hoping these will be completed by the end of next year. Others are still in the design phase.

"These compounds will be built based on the latest international technical specifications, which include all the necessary services the citizens need, such as infrastructure facilities, schools, commercial markets and health centres," he said.

"We hope that next year, we will finance more housing projects, as we help finance along with investors the construction of 100,000 housing units per year and achieve the desired growth in housing, one of our most vital sectors," he said.

HOUSING CRISIS
Wihda al-Jumaily, a member of parliament who serves on the construction and services committee, spoke to the difficulties Iraqis face in financing their homes.

"Many citizens, especially those of limited income, do not have enough money to build a house because of the rise in construction costs," she told Mawtani.

"These loans would help them overcome the funding problem, and thus ease the housing crisis, as estimates indicate Iraq needs more than three million housing units," she said.

Al-Jumaily said the government needs "to increase the amount of funds allocated every year to the Housing Fund to enable it to serve the largest number of citizens through its loans and to strengthen its role in financing other housing projects".

[KA3BI-IRAQ]

http://www.youtube.com/watch?v=fQg4QtlUwMU

[KA3BI-IRAQ]

although this house is made in ksa. but it's about $40000 it's done fast and it looks amazing and the best thing about it is that this house has a modern toilet. not the ones that break your back

[sheytanElKebir]

whilst I support rapid construction techniques... not all are equal. that video is a good example of how NOT to do rapid construction housing... not to mention the "techniques" and materials used...

[KA3BI-IRAQ]

maybe but i geuss it's better than the houses i have seen in iraq. mainly in nasriya they look bad and they break down in 5 - 10 years

[Euphrates]

@ 27:05