Abu Dhabi's Al-Maabar in $10bn Iraq development

BAGHDAD NEWS: Abu Dhabi's Crown Prince Sheikh Mohammed visited the Iraqi capital last week. (Getty Images)

Abu Dhabi real estate development investment company Al-Maabar has committed itself to a major new development in Baghdad, UAE's official news agency WAM reported on Sunday.

The $10 billion development, located at the Al-Rasheed Military Compound, will cover 1,250 hectares and comprise residential units, a commercial district, a technology centre, a hotel and hospitality district, health care and educational districts, and public facilities such as mosques and gas stations, WAM reported.

It is envisaged that the project will include public recreational parks, a golf course, museums and other cultural facilities such as theatres and cinemas, it added.

"The move to develop this project complements the growing levels of support that the UAE is providing to the government of Iraq. Through the direction of the Abu Dhabi leadership, Al-Maabar will add real value to the countries that it invests in," Yousef Al-Nowais, Al-Maabar's managing director was quoted as saying.

''Al-Maabar plans to achieve this through job creation and talent development, knowledge transfer and economic stimulus and will be working very closely with the relevant ministries in Iraq to insure that this project meets the specific needs of the Iraqi people," he added.

Consultants Dar Al-Handasah have been awarded the contract for creating the conceptual master plan along the guidelines set by the urban planning and municipal authorities in Baghdad.

The announcement comes a week after a surprise official visit to Baghdad by Abu Dhabi's Crown Prince, Sheikh Mohammed bin Zayed Al-Nahyan.

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM