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5 Oct 2015

Iraq’s City of the Future

Under the auspices of His Excellency Prime Minister Nuri Al-Malki, Al Handal International Group and Bloom Properties signed a contract with the Iraqi National Investment Commission to develop the City of the Future on the outskirts of Baghdad. Iraq’s National Investment Commission Chairman Sami Al Araji, signed the contract along with Mr. Hardan Al Handal, Deputy Chairman of Ashur International Bank Board of Directors, and Mr. Simon Azzam, Bloom Properties CEO, with the presence of His Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum  as partner with Al Handal International Group.

The project value is approximately 6.5 billion US Dollars and it is located 14.5km from Baghdad city Centre. It will feature 30,000 residential units spread over an area of five million square metres and shall accommodate up to 150,000 people. It will be served by five commercial centers, 18 schools cover all stages, 12 kindergartens, many commercial buildings with dozens of shops as well as a modern hospital, a police center, a civil defense center, a mosque and a medical center.

This project is considered a great achievement for Al Handal International Group, which indicates the increasing technical and financial capacities of its work.