NIC presides the first meeting to establish the National Company for Real Estate development

NIC presides the first meeting to establish the National Company for Real Estate development

Responding to the Prime Minister’s directives

NIC presides the first meeting to establish the National Company for Real Estate development

The first meeting of the Committee in charge of establishing the National Company for Real Estate development was held at the NIC premises, presided by Suha Dawood Najar, Head of NIC, on Monday 01.02.21 and attended by the prime minister’s advisors (Dr. Sabah abdul latif,

Dr. Ibrahim al- Zubaidi, the Technical Manager of Baghdad Municipality, Head of State properties department and the head of the Industrial bank)

NIC Chairwoman assured during the meeting that this committee shall work on laying down the studies of establishing the company and the legal and financial steps required to set out, referring that the company shall be categorized as a mixed sector one distributed as 50% for the public sector, 25% for the private sector and the remaining 25% shall be sold as shares for Iraqi citizens.

Najar expressed that the final goal out of establishing this company is to develop the real estate sector all over Iraq in addition to solve the housing crisis through starting housing projects according to developed visions and modern doctrines that depend on cooperation between the public and the private sectors, referring that this step comes within a series of others that shall be taken by Iraqi government to achieve sustainable development.