Iraq has recently initiated the construction of “Al-Jawahiri New City,” a residential project located west of Baghdad, with an estimated cost of $2 billion.
This development is part of the government’s strategy to build five new cities to alleviate the housing crisis and reduce overcrowding in major urban centers.
The new city, which is being developed by Chinese and Iraqi companies, aims to establish 30,000 residential units and 10,000 serviced residential plots.
It will also feature universities, commercial centers, and approximately 70 schools, as announced by Iraqi Prime Minister Mohammed Shia Al-Sudani in a statement reported by the Iraqi News Agency.
Iraq faces a chronic shortage of housing units. In central Baghdad, the cost of a housing unit ranges between $300,000 and $600,000, which exceeds the financial capabilities of the average citizen, as stated by Al-Sudani.
The Iraqi government plans to construct additional cities in Nineveh, Karbala, Anbar, and Babel to increase the availability of residential units. Al-Sudani also announced forthcoming plans for 10 new residential cities in other provinces.
Al-Sudani emphasized that the goal is to provide 250,000 to 300,000 housing units targeting low and middle-income groups, with a commitment to maintaining stable housing prices.
Al-Sudani added that the “Al-Jawahiri New City” project is expected to be completed within three years. For the first time, the project will include 25% serviced land, which the government will distribute among citizens based on specific mechanisms.
According to Bloomberg, Salar Mohammed Amin, Deputy Chairman of the National Investment Commission, stated that the “Al-Jawahiri” project costs around $2 billion, with no part of the amount yet paid by the government.
