Shafaq News / The National Investment Commission announced today, Thursday, the approval of the Ministerial Council for Economic Affairs to continue the implementation of housing units in Basmaia City by the South Korean company Hanwha. The commission will determine the project's domestic and international financing sources in a principled manner.
The National Investment Commission stated that "the President of the National Commission confirmed during his chairing of a meeting attended by the prospective owners and department managers in the Commission that the Ministerial Council for Economic Affairs approved the recommendations of the relevant committee to continue the contract with Hanwha Korean Company to implement all housing units in the Basmaia complex."
The statement quoted the President of the Commission, Haider Mohammed Makkiya, as saying, "The approval of the Ministerial Council for Economic Affairs included that the National Investment Commission will determine the financing sources for the project, both domestic and foreign, on a principled basis." He pointed out that "the Basmaia Residential City project is one of the promising projects that will witness a new launch for the implementation of the remaining housing units and their sale to Iraqi citizens."
He added that "the Commission places the implementation of the government program and the solution of the housing crisis among its top priorities as part of the implementation of its authorized projects," stressing "the need to complete the procedures for identifying the internal and external financing sources for the project and start building housing units, infrastructure, and providing the best services."
In the same context and as part of the procedures related to the Basmaia Residential Project, the President of the National Investment, Haider Mohammed Makkiya, held a meeting with representatives of the South Korean company Hanwha to discuss developments related to the financing sources and the company's resumption of work on the project, as mentioned in the statement.
The South Korean delegation expressed its satisfaction with the efforts made by the National Investment Commission aimed at continuing to complete (100,000) housing units for Iraqi citizens.