Najaf grants investment licenses worth $56m

$51m residential complex to include 795 houses as well as facilities

Najaf has granted investment licenses worth $56m. Photo: Getty
Najaf has granted investment licenses worth $56m. Photo: Getty

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Najaf’s investment commission has granted two investment licenses worth $56m to build a residential complex and a tourist hotel in the Najaf Governorate, it was announced on Tuesday.

One of the licenses is to build a residential complex 17km south of Najaf city that will include 795 homes worth $51m.

“The complex also includes service and entertainment facilities, and the license was granted to Dar Engineering Company,” Wafi al Bahhash, head of the commission told Iraqi newspaper AKnews.

“The second license was granted to an Iraqi investor to build a four storey tourist hotel that will cost $5m,” he added.

The Investment Commission of Najaf has granted 170 investment licenses since it was formed in 2007, with a total value of $6.2bn.

The Iraqi national commission is exclusively responsible for all strategic investment projects within the country.

Regional and provincial bodies are responsible for investment planning and the granting of investment licenses in their areas of authority.

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