Business | Property

Al Maabar launches its Dh36.5b Baghdad project

International real estate firm Al Maabar has unveiled plans for its Dh36.5 billion ($10 billion) mixed-use development in Baghdad.

  • By Suzanne Fenton, Staff Reporter
  • Published: 23:50 October 14, 2008
  • Gulf News

Dubai: International real estate firm Al Maabar has unveiled plans for its Dh36.5 billion ($10 billion) mixed-use development in Baghdad.

The venture will cover more than 1,250 hectares of Al Rasheed Military Compound and will comprise several clusters.

These include residential units, a commercial district, technology centre, a hotel and hospitality district, healthcare and educational districts and public facilities, including mosques and petrol stations.

"It's a country whose people have gone through so much. We would like to be the first to do something in a neighbouring Arab country," said Yousuf Al Nowais, managing director of Al Maabar. "We have a long history with them and I think they deserve it more than anybody else. The people should enjoy life like in other cities."

No name has yet been decided for the development.

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