It is announced by the Bloom Properties of Abu Dhabi that a deal is going to be made for a huge development in Iraq, along with the banks of Lake Razaza in Karbala.
It was said by the Bloom that the contract has been confirmed between the Governorate of Karbala and the Iraqi National Investment Commission.
The Karbala project’s shores are 20 sq km extended and it will comprise around 40,000 homes distributed amongst four of the districts and they will be completed over 8 years.
The population is expected to be near about 250,000 people and the four districts will include apartments, townhouses, villas, hotels, open markets, commercial offices, business centers, schools, children’s’ playgrounds, public parks, mosques, clinics and dispensaries, social and sports facilities, government and along with that cafes, restaurants and related infrastructure will be there.
The Prime Minister of Iraq, Nouri Al Maliki laid the foundation stone for the project after the signing occasion.
The chairman of the National Investment Commission of Iraq, Dr. Sami Al Araji said that the urban planning improvement of Karbala will really get benefited by this project and they have got plans for taking the city to a new level with the improvement of distributing the population density and the urban centers.
Araji also said that there will be multiple modern centers in Karbala, which will be complemented by the set up of a series of ecosystems.
The CEO of the Bloom Properties, Simon Azzam did also add with this that along with the signing of this deal, they are ready of initiating the work of making plans at a primary level.
This project is one of the biggest real estate projects in Iraq and a good quality standard is perfect for this type of project.
The deal assures the land survey, license issuing and primary approvals, and these all belong to the initial work stage.
Updated 09 Mar 2013 | Soruce: PUK Media | By S.Seal