Untitled Document
Excon, Excon 2011 Biggest Construction Equipment Trade fair India.
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www.epcworld.in
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Global Brief |
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| 10/06/2009 02:30:00 PM |
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Dubai, Oct (EPC News): New Sealand developer, Atconz Real Estate, the developer of a scheme to build 1,565 homes in Iraq, is looking for partners for further projects in the country, said Dean Michael, CEO of the Atconz. |
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The developer announced the residential project at Cityscape Dubai and said it was attending the event as part of a bid to find firms to work with Iraq.
“This (Iraq) is a emerging market, and by participating in Cityscape, we are spreading a message to the investors and financial institution to invest in this market,†said the CEO.
Atconz’s $100 million New Azadi residential project is in a suburb of Erbil, the capital of the Kurdish region. The scheme is due to take three years to complete. The 750,000 m² development will consist of 810 two bedroom houses, 700 four bedroom houses, 55 five bedroom houses, four schools, a hotel, a supermarket, plantation, commercial and community services and parks.
Iraq is to spend $25bn (£15bn) on building 3.5 million homes over the next 10 years. This should account for 15% of the country’s housing needs. The other 85% will be funded by private sector investors.
EPC News Bureau
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