BAGHDAD, Basra Investment Commission held talks with the Korean company Hanwah to establish a project to build 10,000 housing units as the first phase of a total of 100,000 housing units, the company plans to establish in the district of Shatt al-Arab east of Basra.
"As a result of our presence in Iraq and the expertise and capabilities of the company, we went to Basra as it is the economic capital of Iraq," said Su Man An, head of international projects at the company, pointing out that the company is seeking another residential project in competition with other international companies.
For his part, a member of the Basra Provincial Council Alaa Abdul Hussein said, "The local government during the previous two sessions had prepared designs for three residential cities in Basra, one of them in the district of Shatt al-Arab, and waiting for the company to provide designs for the first stage.
It is noteworthy that the company was established in 1967 in South Korea, and has established several projects in the world including the United States of America, Saudi Arabia and Kuwait in addition to the residential city of Bismayah in Baghdad.
Source: National Iraqi News Agency