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Expectations of higher property prices over the coming years
On: Wed, 12/21/2011 7:25
□ Baghdad / economic-term follow-up
Under the stranglehold that the housing crisis experienced by the country seeking the Ministry of Construction and Housing to attract companies that housing investment to Iraq the same time some experts argue that the crisis can not be solved in the coming years
And because there are stark failures of the process of construction and reconstruction of the country and the inability to provide the infrastructure that lacks most of the residential areas in addition to the operations of financial and administrative corruption hamper the work of this sector. The Ministry of Construction and Housing on Tuesday won three local companies and global competition project design low-cost affordable housing out of 35 companies competed for the project, confirmed that the cabinet has allocated two billion dollars for affordable housing project during the next four years.
The Minister of Construction and Housing, Mohammed al-owner Darraji in a statement issued by the ministry: "The coalition consisted of three companies, Iraqi, British and Austrian won the first prize in the competition to design a housing project in the economic and low cost of the 35 local and international companies participated in the competition."
He Darraji that "the National Center for Engineering Consultancy of the Ministry of Construction and Housing received the second place, while the occupied Iraqi group Dutch third place," noting that "the problem of the ministry, which included a number of consultants and experts from Iraqi universities and the ministry center and offices of the engineering consultancy chose the best Presentations. "
He Darraji that "the choice of designs adopted consensus standards for the quality of construction and trade-off construction material, in addition to both the architectural and environmental impacts of the project is appropriate for the nature and Iraqi airspace," pointing out that "the selection of the winners was a way to vote by the members of the committee."
The Darraji that "the cabinet has allocated two billion dollars for the housing project's economic the next four years," stressing that "the project will include all Iraqi provinces, which will be distributed to units where as the percentage of population of each province in coordination with the concerned authorities in the provinces and the Ministry of Municipalities and Public Works."
And The Ministry of Construction and Housing in July, a competition for designs for a housing project in the economic, which aims to help the poor who do not have housing units and money by building affordable housing is distributed free to them and project includes all the provinces of the country, after the approval of the Council of Ministers on the allocation of two billion dollars to create these residential units beginning in 2012.
And the Cabinet had announced during the year 2007, the formation of a higher committee for the draft National Housing, headed by the Minister of Construction and Housing and the membership of the Deputy Minister of Finance and Deputy Minister of Planning and Deputy Minister of Municipalities and Public Works and the Under-secretariat of Baghdad for the elimination of the housing crisis is worsening in Iraq through the creation of housing units in Iraq through vertical construction for distribution to the owners of middle-income and below average.
The Ministry of Reconstruction in 2010, announced a plan to build 28 residential complexes in all Iraqi provinces, and contains each compound at 504 housing units, are distributed to low-income people.
The Organization of human settlements "Alhbettat" of the United Nations in coordination with the National Commission on Human Settlements in Iraq to prepare a study on the need for housing in Iraq, and collect the necessary data and analysis needed to be a basis to draw a housing strategy in Iraq.
The National Investment Authority announced on 25 August, for completion of the final designs for Basmaja residential complex which will be implemented by the Korean company Hanwha through the construction of 100 thousand housing units in the area Basmaja on an area of eight thousand acres.
The parliament passed in October 2006 Iraqi investment law, which it was said at the time that it will open the doors wide open to foreign investment, due to introducing a lot of facilities to foreign investors, many foreign companies are still hesitant because of fears that the security situation is stable in Iraq , in addition to that the law did not give investors the right to ownership of the property the project, and equated the Iraqi investors and foreign investment in all the privileges, except own the property, as can a foreign investor to rent the land for 50 years, renewable, according to paragraph 11 of the Investment Law.
It is incumbent upon investors to submit their projects for the National Commission for Investment, or the Investment Commission of the region, Omahafezh, to get investment licenses, and can apply for investment license to the "circle of single-window", developed by the National Investment Commission, and authorized to inform the investor's decision to the final in 45 days to eliminate administrative red tape in granting investment license.
Is noteworthy that Iraq suffers from severe housing crisis because of the increasing number of Iraq's population and limited residential complexes, in addition to the inability of citizens to build housing units for its own cost of land and construction materials.
To expect that real estate expert Ismail Hussain increasing property prices in the coming years to continue in the event of the current state policy in solving the housing crisis in Iraq.
Hussain said, according to the Agency (news): The policy of the government is still unable to cut in the process of Osaralakarat solving the housing crisis in Iraq, pointing to the absence of a clear vision of how to deal with crises that occur in the country.
He said Abdul Hussein: There exist many failures mar the process of construction and reconstruction of the country and the inability to provide the infrastructure that lacks most of the residential areas, leading to increasing property prices in cities with good services,
He said Abdul Hussain: This will reflect negatively on the system of mortgages in the banks as a result it can not provide loans equivalent to property prices being the prices, "fictional," noting that the banks in real estate If you provide these loans in accordance with these prices, they will suffer from a new crisis, as happened in America during the last biennium .
He called for: the need for the federal government to be serious in the process of reducing the prices of real estate through the establishment of housing units are distributed to citizens at subsidized prices to the ordinary citizen can buy.
Earlier, between the Member Services Committee and the reconstruction of parliamentary and the National Alliance MP Riad Ghraib, Iraq needs two million housing units, as well as dozens of years to eliminate the housing crisis.
A whimsical (the news): The infrastructure of the country's collapsed since the Iraq war with Iran in the year (1980) until the fall of the system was neglected, and therefore they need to compensate, and billions of dollars to be returned, indicating that Iraq needs to two million housing units, as well as dozens of years for the elimination of the housing crisis, because it can not resolve the crisis year or two.
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On: Wed, 12/21/2011 7:25
□ Baghdad / economic-term follow-up
Under the stranglehold that the housing crisis experienced by the country seeking the Ministry of Construction and Housing to attract companies that housing investment to Iraq the same time some experts argue that the crisis can not be solved in the coming years
And because there are stark failures of the process of construction and reconstruction of the country and the inability to provide the infrastructure that lacks most of the residential areas in addition to the operations of financial and administrative corruption hamper the work of this sector. The Ministry of Construction and Housing on Tuesday won three local companies and global competition project design low-cost affordable housing out of 35 companies competed for the project, confirmed that the cabinet has allocated two billion dollars for affordable housing project during the next four years.
The Minister of Construction and Housing, Mohammed al-owner Darraji in a statement issued by the ministry: "The coalition consisted of three companies, Iraqi, British and Austrian won the first prize in the competition to design a housing project in the economic and low cost of the 35 local and international companies participated in the competition."
He Darraji that "the National Center for Engineering Consultancy of the Ministry of Construction and Housing received the second place, while the occupied Iraqi group Dutch third place," noting that "the problem of the ministry, which included a number of consultants and experts from Iraqi universities and the ministry center and offices of the engineering consultancy chose the best Presentations. "
He Darraji that "the choice of designs adopted consensus standards for the quality of construction and trade-off construction material, in addition to both the architectural and environmental impacts of the project is appropriate for the nature and Iraqi airspace," pointing out that "the selection of the winners was a way to vote by the members of the committee."
The Darraji that "the cabinet has allocated two billion dollars for the housing project's economic the next four years," stressing that "the project will include all Iraqi provinces, which will be distributed to units where as the percentage of population of each province in coordination with the concerned authorities in the provinces and the Ministry of Municipalities and Public Works."
And The Ministry of Construction and Housing in July, a competition for designs for a housing project in the economic, which aims to help the poor who do not have housing units and money by building affordable housing is distributed free to them and project includes all the provinces of the country, after the approval of the Council of Ministers on the allocation of two billion dollars to create these residential units beginning in 2012.
And the Cabinet had announced during the year 2007, the formation of a higher committee for the draft National Housing, headed by the Minister of Construction and Housing and the membership of the Deputy Minister of Finance and Deputy Minister of Planning and Deputy Minister of Municipalities and Public Works and the Under-secretariat of Baghdad for the elimination of the housing crisis is worsening in Iraq through the creation of housing units in Iraq through vertical construction for distribution to the owners of middle-income and below average.
The Ministry of Reconstruction in 2010, announced a plan to build 28 residential complexes in all Iraqi provinces, and contains each compound at 504 housing units, are distributed to low-income people.
The Organization of human settlements "Alhbettat" of the United Nations in coordination with the National Commission on Human Settlements in Iraq to prepare a study on the need for housing in Iraq, and collect the necessary data and analysis needed to be a basis to draw a housing strategy in Iraq.
The National Investment Authority announced on 25 August, for completion of the final designs for Basmaja residential complex which will be implemented by the Korean company Hanwha through the construction of 100 thousand housing units in the area Basmaja on an area of eight thousand acres.
The parliament passed in October 2006 Iraqi investment law, which it was said at the time that it will open the doors wide open to foreign investment, due to introducing a lot of facilities to foreign investors, many foreign companies are still hesitant because of fears that the security situation is stable in Iraq , in addition to that the law did not give investors the right to ownership of the property the project, and equated the Iraqi investors and foreign investment in all the privileges, except own the property, as can a foreign investor to rent the land for 50 years, renewable, according to paragraph 11 of the Investment Law.
It is incumbent upon investors to submit their projects for the National Commission for Investment, or the Investment Commission of the region, Omahafezh, to get investment licenses, and can apply for investment license to the "circle of single-window", developed by the National Investment Commission, and authorized to inform the investor's decision to the final in 45 days to eliminate administrative red tape in granting investment license.
Is noteworthy that Iraq suffers from severe housing crisis because of the increasing number of Iraq's population and limited residential complexes, in addition to the inability of citizens to build housing units for its own cost of land and construction materials.
To expect that real estate expert Ismail Hussain increasing property prices in the coming years to continue in the event of the current state policy in solving the housing crisis in Iraq.
Hussain said, according to the Agency (news): The policy of the government is still unable to cut in the process of Osaralakarat solving the housing crisis in Iraq, pointing to the absence of a clear vision of how to deal with crises that occur in the country.
He said Abdul Hussein: There exist many failures mar the process of construction and reconstruction of the country and the inability to provide the infrastructure that lacks most of the residential areas, leading to increasing property prices in cities with good services,
He said Abdul Hussain: This will reflect negatively on the system of mortgages in the banks as a result it can not provide loans equivalent to property prices being the prices, "fictional," noting that the banks in real estate If you provide these loans in accordance with these prices, they will suffer from a new crisis, as happened in America during the last biennium .
He called for: the need for the federal government to be serious in the process of reducing the prices of real estate through the establishment of housing units are distributed to citizens at subsidized prices to the ordinary citizen can buy.
Earlier, between the Member Services Committee and the reconstruction of parliamentary and the National Alliance MP Riad Ghraib, Iraq needs two million housing units, as well as dozens of years to eliminate the housing crisis.
A whimsical (the news): The infrastructure of the country's collapsed since the Iraq war with Iran in the year (1980) until the fall of the system was neglected, and therefore they need to compensate, and billions of dollars to be returned, indicating that Iraq needs to two million housing units, as well as dozens of years for the elimination of the housing crisis, because it can not resolve the crisis year or two.
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