NIC to Develop 60,000 Residential Plots in Karbala Under Government Initiative
2 reports, 1 independent
Updated Oct 9
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What happened
The National Investment Commission (NIC) announced that it had signed four investment licenses with private developers to provide 60,000 residential plots in Karbala. The private developers include Al-Amniyat for Investment and Real Estate Development, Al-Mawj, Majd Al-Ula, and Al-Miqdaam. This project is part of a larger government initiative aimed at delivering one million serviced residential plots across Iraq's provinces.
Why it matters
Karbala has been designated as the first governorate to be served under this ambitious initiative. The NIC stated that it will oversee the executive procedures and coordinate with relevant public and private-sector bodies to ensure the project is carried out successfully.