Baghdad may be planning to build an 80,000-seat National Stadium. I don't think it should be built.
what do they need that for, they should spend the money on hospitals, water tratment/ sewage treatment plants and general debt reduction among the population, total bonkershno:Baghdad may be planning to build an 80,000-seat National Stadium. I don't think it should be built.
http://www.rebuild-iraq-expo.comIraq has signed contracts worth more than $63 billion dollars with a large number of investment companies to implement reconstruction projects in Iraq.
The most prominent of these projects, according to head the Iraqi National Investment Authority Dr. Ahmed Ridha, are the establishment of the great port of Basra and the reconstruction of Baghdad International Airport in addition to building housing units and a new city with integrated housing which will be one of the largest modern cities in the Middle East.
“During the current year, we have introduced numerous investment projects, and many contracts were signed with different companies worldwide,” said Ridha pointing out that $12 billion is earmarked for the port of Basra and $17 billion for building the Baghdad international airport, in addition to setting up business and building hotels. He added that the projects also include the construction of 200 thousand housing units and hotels, plus a touristic city on the Corniche of Kufa in the Najaf governorate at a cost of $34 billion, in addition to the establishment of new Kut city at a cost of $650 million.
Ridha added that the second reconstruction conference held recently in Cairo was a turning point at rebuilding Iraq, as it witnessed signing big contracts to be invested in many provinces. The Iraqi delegation participating at conference has presented large investment projects planned in many Iraqi governorates and the feedback of investors and entrepreneurs was overwhelming. For example, C. Krupp has signed investment contracts with four Iraqi provinces (Diwaniyah, Anbar, Karbala and Nasiriyah).
On the other hand, the government of Iraq has agreed on signing with a German company to build five hospitals that cost $700million. On this occasion, Govt.’s spokesman Ali Dabbagh said that the Cabinet has decided giving reconstruction committee’s wide authorities to reduce time and measures at carrying out service projects and building hospitals.
http://www.projectsmiddleeast.com/Iraq’s Korek Telecom is planning to spend some US$400 million over the next twelve months on its GSM network - despite still having not concluded its joint venture details with UAE based Etisalat.
“We have already started planning for the nationwide network,” Hamid Akrawi, chief operating officer of Korek told the Middle East Business Intelligence. “It will take maybe six months to one year and it will cost us $300-400m.” The company has not yet selected a supplier for the network infrastructure. Korek Telecom operated a network in the Kurdish region and in 2007 signed a joint venture agreement with Orascom Telecom. Orascom broke up the partnership at the end of last year citing difficulties between the two companies. Earlier this year, Etisalat confirmed that it is in talks with Korek Telecom - but these are still ongoing.
http://www.projectsmiddleeast.com/International firms are competing for one of the largest construction schemes in the country at a total cost of nearly $15 billion, a statement by Baghdad Municipality said.
The statement said 14 firms have supplied tenders to construct the Al-Rasheed City to be built on a former massive military camp bearing the same name.
The city will include a 4000-bed hospital and as well 21 specialized clinics to form the largest medical complex the Middle East in the future, the statement said.
The residential complex that will include six residential sectors with hundreds of 3-6 story building is expected initially to house 60,000 people, it added.
The return of some semblance of normalcy to Baghdad is encouraging some firms to submit offers.
Most foreign firms had fled Iraqi due to mounting insecurity. Many have migrated to the more peaceful Kurdish north, taking a wait-and-see attitude.
http://www.arabianbusiness.comUAE developer Damac Properties plans a $15 billion development in Iraq's Kurdistan province to start by the year-end, Damac said on Tuesday.
The project includes residential, commercial and hospitality buildings over 170 million square feet in Arbil, Damac said.
Damac Chairman Hussain Sajwani said the first phase of the project would cost $4.5 billion and the total cost of the project would be 55 billion dirhams ($14.98 billion). "Tarin Hills development... will also create jobs and support growth in related sectors such as tourism and hospitality," the statement quoted Nerchivan Barzani, the prime minister of the region, as saying.
Damac, with projects in countries including Egypt, Qatar and Jordan, will eventually borrow funds from banks but will launch the project using Damac equity, Sajwani said.
Damac unit Damac Kuwaiti Holding, which listed in Kuwait in April, has said it would use listing proceeds to finance Iraq projects. (Reuters)
http://www.iraqupdates.comDamac Properties – the luxury lifestyle provider and Middle East’s largest private sector master developer announced its plans in Kurdistan, Iraq, with the launch of the Tarin Hills master development in Erbil.
Located in the Kurdistan Region of Iraq, the project is a conglomeration of residential, retail, commercial, hospitality, entertainment, health and sports components interwoven within the picturesque terrain of Erbil.
The master development, Damac’s first in Iraq, follows the success of its master development 'Gamsha Bay’ in Egypt.
The development, to spread across a massive 170 million square feet, will offer residential communities and the best of retail environments and recreational offerings.
Phase 1 of the development has a value of $4.5bn.
Damac’s development plans in Erbil were announced at a press conference held in the presence of His Excellency Nechirvan Barzani, Prime Minister of Kurdistan Regional Government of Iraq, and a number of ministers from the region.
Speaking at the press conference, His Excellency Nechirvan Barzani said: 'The Tarin Hills development will not only help promote the global face of Erbil, it will also create jobs and support growth in related sectors, such as tourism and hospitality. We thank Damac for taking this initiative which is very positive statement and symbol of the stability and growth potential of the Kurdistan Region. We are confident of the success of this project and pledge our full cooperation with Damac and its investors in making Tarin Hills a world class development.'
Damac’s Chairman Hussain Sajwani said: 'We are very confident that Erbil’s unique topography has great potential to become an attractive destination for both high-end and mass tourism. We are happy to contribute to the development of a new Kurdistan and believe that this investment will contribute towards the growth phase of the region and a landmark in Iraq development.
The Tarin Hills development is a distinctive lifestyle expression and extends the perfect choice of amenities creating a destination for discerning homebuyers and businesses alike.'
Peter Riddoch, CEO of Damac Properties, said: 'The hills of Tarin will be transformed into a golf course residential community with villas surrounding and intertwined amongst the 18-hole course.
This community will be augmented with a Golf Club and Health Centre, which will be a focal point destination for recreation and leisure. In addition to this, the community will encompass a water and theme park, arts and crafts centres, retail complexes, besides schools and business parks.'
The development will feature Mediterranean styled villas, townhouses, apartment blocks, a variety of retail outlets, a formal and traditional mall, a cluster of office complexes to serve as the business park, a community wide sports centre and spa, arts and crafts centre, business hotels and country lodge hotels, water and theme park and schools for the residents of Tarin Hills.
Other features of the project include:
- A fully gated community with security fence, checkpoints, high-tech screening at entrance gates, numerous internal monitoring points and around-the-clock security patrols.
- The most sophisticated technology and modern amenities such as, wireless high-speed internet supply and internal telephone network.
- 24-hr maintenance services (landscaping, swimming pools, electrical, mechanical, plumbing, satellite dish, etc.).
- Housekeeping services.
- Gas station with emergency repair services and car decoration shop.
- Dedicated and safe children’s play areas.
- Dedicated around the hour bus service to Erbil City Centre.
- Clear directions on all internal roads and villas for easy navigation.
- Police Station and Civil Defense inside the community in case of emergencies.
- Back up generators and water storage tanks.
A dedicated building with a footprint of 3,000 sqm and a total of 10 floors generates over 30,000 sqm of gross space available for various medical clinics and facilities to cater to the health needs of the Tarin Hills residents and the community at large.
A hospitable reception welcomes all, and is supported by state of the art technologies for quick and efficient processing.
From pharmacies to pediatrics, from dentistry to chiropractors, a variety of specialists and general MDs will be able to set up clinics and cater to all public health needs.
Set within the business park, the medical center will have fantastic views to the mountains on either side, and is located within a lush landscape park next to a water impounded pond.
The floor plates are big and spacious enough to accommodate large facilities, and can also be broken up into smaller units for those private practices.
Its setting within the well maintained community of Tarin Hills will ensure a pleasant and comfortable stay, and no doubt a speedier recovery.
DamacHolding has now grown into a global conglomerate with more than 7000 employees in 18 countries.
Being one of the first private sector companies to make a commitment to Dubai’s real estate market, Damac Properties has become the market leader with a strong sales record to its credit.