Announcement of investment opportunity No. (2) for the year 2023/ to establish the new city of Difaf Karbala in Karbala Governorate
Based on Cabinet Resolution No. (23121) for the year 2023 and based on the amended Iraqi Investment Law No. (13) for the year 2006 and related regulations and instructions .
The National Investment Commission, in coordination with the Ministry of Construction, Housing and Public Municipalities / New Cities Implementation Authority, announces the investment opportunity to establish the city of Defaf Karbala in Karbala Governorate, with an area of (3000) dunums, with three investment opportunities. Investment companies and investors wishing to invest should review the information and conditions shown on the Authority’s website. Implementation of new cities ( https://ncia.moch.gov.iq ) and the website of the National Investment Commission ( www.investpromo.gov.iq ) and submit their applications according to the conditions set out below :
- Allocating (15%) of the housing units to the governorate as a minimum, and the amount of the percentage and increasing it as a criterion within the criteria of competition among investors .
- Submitting an account statement from an accredited bank (later confirmed by the Central Bank) confirming its financial capacity and owning at least 25% of the value of the project to be spent exclusively on the project according to undertakings submitted by the investor, in addition to presenting the financing plan and the financial position of the company coupled with the guarantee of the financing entity from an accredited financial institution .
- A letter of guarantee in the amount of (7) seven billion dinars issued after the completion of the infrastructure by the investor for the land area specified in the investment contract .
- Submission of similar works carried out by the investor, developer or his partners inside or outside Iraq certified by the Iraqi embassy (if the companies are foreign or carrying out business abroad) and he has administrative and technical experience and sufficient equipment .
- In the event that the investor desires to make changes in the master plan, he must submit an economic and technical feasibility study according to the standards of the Ministry of Planning and in accordance with the information and requirements that must be provided, prepared by an accredited consulting body or an office holding the identity of the Iraqi Accountants and Auditors Association .
- Provide a timetable for the completion of the project (table of work progress stages) .
- Compliance with the environmental conditions specified by the Ministry of Environment (attached to the advertisement) with the requirements of civil defense .
- Submitting the company incorporation certificate along with the company papers certified by the Registrar of Companies .
- Insurance of the investment project with one of the approved insurance companies for the duration of the project .
- Submission of a non-objection letter to enter the investment opportunity issued by the General Commission for Taxes addressed to the Ministry of Construction, Housing and Public Municipalities, and a valid clearance until 2023 (approving the barcode system) .
- Opening accounts in Iraqi or foreign currency, or both, for the later approved project
- Submitting a partnership contract (in solidarity) for the investment opportunity (if there is a partner) duly certified by the Notary Public Department. It is permissible to submit a prototype (agreement) on the partnership signed between the investors, supported by an undertaking submitted by them not to withdraw or waive in the event that the investment opportunity is awarded to it and with what He guarantees the financial solvency in paragraph (2) of the partnership contract.
- The investor is obligated to implement the project during the period specified in the investment license and to sell housing units to citizens and not to speculate at the prices specified in the economic feasibility study and established in the investment contract, while adhering to the instructions of the National Investment Commission .
- Submission of final accounts of the participating companies for the last (three) years certified by one of the Iraqi accountants and auditors licensed offices .
- Bidders must visit the site before submitting, taking into account the planning controls and determinants of the area in accordance with the instructions and controls of urban planning and the Municipality Directorate, taking into account the environmental impact in accordance with the approved and applicable international regulations .
- The city should be sustainable and use clean energy as much as possible in line with Paragraph (7).
- Establishing an electronic management system for the municipality and real estate registration departments for the service buildings that will be allocated in the project and others .
- Bids are evaluated through a comparison form that specifies the points and basis for comparison and evaluation from the technical and economic side (attached) .
- Bids shall be submitted within a maximum period of (30) days starting from the date of the announcement. Inside a sealed envelope sealed with the company’s seal, to the headquarters of the National Investment Commission located on Al-Qadisiyah Highway, the International Zone, near the Turkish Embassy..
In the event of any inquiries, contact the phone number (07733678838) and (07860094023) and the e-mail ( ncia@moch.gov.iq ).
The date of publication of the advertisement is 1/6/2023
