Emirati Bloom to house 250000 Iraqis through Shores of Karbala Project
National Holding subsidiary Bloom Properties has announced its intention to start infrastructure work on the large-scale Model Village and Shores of Karbala project on the banks of Lake Razaza in Iraq.
The company has submitted a final master plan for the 20 square kilometre development, west of the Iraqi city of Karbala, to the country’s National Investment Commission, and is awaiting approval.
Bloom said the site will include civic amenities and facilities and will be developed over a period of eight years.
Upon completion, it is expected to provide 40,000 housing units across four districts that will house 200,000 to 250,000 people.
The project will consist of residential units of all types including villas, town houses, apartments, hotels, shopping malls, open markets, business centres, clinics, schools, mosques, public parks, children playgrounds, government, social and sports facilities, restaurants, cafes and auditoriums, Bloom said.
“The Shores of Karbala project is one of the largest of its kind in Iraq, we will leverage our expertise and unique capabilities in developing a world class urban metropolis that meets the housing and lifestyle needs of the Iraqi people. We are confident that the project will attract more investment to the city through its various phases of development,” said the developer.
- How will plunging oil prices affect Dubai's glittery real estate sector?
- Home prices in Israel makes making ends meet impossible for families
- Putting their eggs in tourists' baskets: why Dubai's real estate developers are shifting to hospitality
- Is Dubai's property market finally displaying 'affordable' tendencies?
- Ironic much? Sharjah's 'affordable' rents is the exact reason they're now skyrocketing