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Iraqi Housing Initiative Fails to Deliver

Iraqi investment authorities have misstepped with the country’s largest residential housing project as they attempt to solve the country’s housing crisis, writes Omar al-Shaher.
Residential houses are seen from a U.S. military helicopter flying over Baghdad June 4, 2008.   REUTERS/Erik de Castro (IRAQ) - RTX6IHU
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The Iraqi National Investment Commission (NIC) is facing major problems in marketing units in the largest residential project in the country, despite the growing housing crisis in the capital of Baghdad. This raises questions about the benefit of the government’s investment in such projects.

Although the advertising campaign for the Besmaya residential project southeast of Baghdad was launched a year and a half ago, thousands of residential units are still available at the complex. This project represents the first step in the Iraqi government's plan to build one million residential units over the coming few years.

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