NIC Chairman Receives a Dutch Delegation

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NIC Chairman, Dr. Sami Al- Araji received a delegation of the representatives of a number of Dutch companies on the 18th of Sept. 2011 with the attendance of Mr. Salar Muhammed Ameen, NIC Vice Chairman

NIC Chairman Specifies Next Week to Start the Registration for Bismayah new City project

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During an expanded Press Conference
NIC Chairman… Specifies Next Week to Start the Registration for Bismayah new City project

NIC announced Sunday 25th.Sept.2011 to be the date for starting the electronic registration

for the project of construction 100 thousand housing units of Bismayah new City which shall
be implemented by Hanwha Engineering & Construction.

NIC Chairman Dr. Sami Al- Araji said that the housing the project’s housing units will be devoted to official employees and retirees after applying electronically by visiting the NIC website ( www.investpromo.gov.i – mailto:bncp@investpromo.gov.iq ),
All other information and details of the project also shall be found on the link knowing that the units areas are (100, 120, 140) m² of three or four rooms according to the most modern designs.

Dr. Sami referred that 630 $ is the price of the housing unit squared meter which means 60 thousand Dollars for the 100 m² unit adding that the buyer will have to pay 25% of the total amount while the remaining amount shall be paid by installments divided on 7 years, knowing that the NIC is currently negotiating with banks ( Rafidain, Rasheed, TBI) in order to get them involved in funding employees aiming at extending the payment term to reach 15 years instead of 7 the matter that will lead to minimizing the installment rate nearly in to the half asserting that the priority will be given to those who are ready to pay the total amount in cash with giving them the right to choose the building and the floor number.

NIC Chairman also clarified that during the first two years the company will focus on implementing the infrastructure after obtaining the land by the end of this year, providing implementing 25 thousand housing units in the third year of starting the project to be handed to the registrars and each year other 25 thousand units are going to be constructed until implementing the whole 100 thousand agreed upon within a complete city provided with all services especially when implementing Al- Rasheed University in near location beside other important amenities.

Al- Araji added that “the project which shall be implemented on a total area of 8 thousand Donums is considered as one of the largest housing units in the Middle East and will be connected to the capital center by a fast transport line.
Mr. Hyun-Chung Kim, Vice Chairman and CEO of Hanwha Engineering and Construction in his turn referred that constructing 100 thousand housing units that shall be inhabited by 600 thousand people is a very big project that includes many challenges so we need the support of all concerned institutions to make the project a success, praising the special efforts made by NIC to make the dream of securing the suitable lodging for many Iraqi families come true while stressing that the company is keen to meet international standards in implementing the whole project.

NIC Chairman Meets with Anbar Governor

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NIC Chairman Meets with Mr. Qasim Muhammed Abid. Anbar Governor and Mr. Amir Farhan,Chairman of Anbar Investment Commission and discusses available investment opportunities in the province.

NIC Announces Finalizing the Fundamental Designs of (100) thousand Housing Units in Baghdad

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Within the Framework of the project of Building One Million Housing Units
NIC Announces Finalizing the Fundamental Designs of (100) thousand Housing Units in Baghdad

NIC announced finalizing the fundamental designs for the project of building (100) thousand housing units in Bismaya on a total area of (8 thousand Donums) and to be inhabited by (500- 600) thousand Iraqi Citizens.
Dr. Al- Araji, NIC Chairman said in a press conference held for this purpose that this city will be constructed according to the latest international standards with full services (schools- clinics- commercial, social and entertainment centers).
Dr. Sami added that the forthcoming weeks will witness announcing the start of registration by employees to know the total number of those willing to buy these housing units of (100 m², 120 m², and 140 m² areas) with three rooms for each.
Dr. Sami also highly praised the special efforts done by the Iraqi and the Korean sides in this project which is the result of the agreement signed on the 25th of May.2011 as an Iraqi team had worked with the Korean side which included members of the Iraqi Ministry of Housing and Construction and other Ministries and universities and in the forefront the University of Technology.
Dr. Sami also referred that registration to buy the housing units will be electronic as a link will be found on the NIC website that is devoted for this purpose and contains all information regarding this project so as to avoid any problems that could happen during the registration process, while the application format will be sent to all ministries and Baghdad Governorate to know the number of people willing to buy these housing units.
And about the implementation periods and costs of these housing units, NIC Chairman made clear that Iraqi citizens will be able to live in this city in the third year of implementing the project when the first (20-25) thousand units will be ready while adding (20-25) thousand housing units yearly until completing the whole 100 thousand units agreed upon with simultaneously completing the services, commercial, entertainment and educational institutions needed.
Mr. Hyun- Chung Kim, Vice Chairman and CEO of Hanwha Engineering and Construction Co. said in his turn that exceptional and special efforts had been done since signing the agreement until finalizing the fundamental designs of the project as the company had assigned a specialized work team for this project that consists of 100 engineer in several fields and he also assured that the company is keen to construct the housing units according to the accredited international standards .
Worth mentioning that the contracting procedures for the project will be guarantying the two sides rights while the citizen’s right will be guaranteed through a detailed contract and all information about the project will be available for the public through the media campaign which will start soon for the project that is considered the first international contract of this size in Iraq.