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Emaar to invest $17bn in Baghdad

Emaar to invest $17bn in Baghdad
The project would include 70,000 units and villas
Emaar
EMAAR
0.37% 8.18 0.03

Dubai – Mubasher: Minister of industry and minerals Mohammed Shia' Al Sudani announced that Emaar Properties is planning to establish a residential complex in Baghdad downtown, costs $17 billion.

The project would include 70,000 units and villas, according to Al Bayan newspaper, citing Al Sudani as saying.

The company, which is listed in Dubai Financial Market (DFM), is currently working on the feasibility study, the newspaper added.

Earlier, sources mentioned that Emaar is preparing to take a $1.5 billion loan from First Abu Dhabi Bank.