Thursday, March 25, 2010

Iraq: One million million housing units to be built

MENAFN reports the National Investment Commission will build one million housing units all over the country to be sold on an installment plan, the head of the commission said on Wednesday.

"The cabinet decided to double the number of housing units to one million after 100 specialized foreign companies had expressed their willingness to invest in the (housing) sector," Sami al-Araji told Aswat al-Iraq news agency.

The units will be sold for $50,000 U.S. dollars.The purchaser will have to pay a deposit of 25% to receive the unit and the rest is spread out over 10 years, Araji noted.

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