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The skyline of the city is shown August 5, 2002 in Baghdad, Iraq. The nation celebrated the 14th anniversary of the end of the 1980-88 Iraq-Iran War August 8, 2002 with a wreath laying ceremony and a military parade. Iraqi President Saddam Hussein used the occasion to announce that he is not afraid of U.S. military threats. (Photo by Salah Malkawi/Getty Images) Image used for illustrative purpose
Iraq intends to pump nearly $25 billion in housing projects involving new cities and residential complexes within a post-war strategy to resolve a severe housing crisis, the head of the National Investment Commission (NIC) has said.
Some of the projects are similar to the 100,000-house Bismaya City near the capital Baghdad at a cost of nearly $7 billion, Haidar Makkiya said.
He told Iraqi News Agency on Sunday that the projects also comprise “The Baghdad District” at a cost of around $1 billion, adding that Saudi Arabia could also fund a $6-billion new residential city in Iraq.
“The total costs of the new housing projects announced recently by Prime Minister Mohammed Al-Sudani are estimated at about $25 billion,” Makkiya said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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