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UAE developers eye Iraq contracts

Contracts currently in negotiation are worth an estimated $70 billion.

May 24, 2010 9:57 by

Iraq’s National Investment Commission (INIC) is in advanced stages of negotiation with UAE real estate developers and investments companies on construction deals, the Gulf News reported Monday.

Described as in the “”advanced stages,” with “the details … now under discussion,” the value of the contracts is estimated at around $70 billion in projects planned across Iraq, including Baghdad, central Iraq, and in the south, the Gulf News said, quoting Sami Al Araji, chairman of the INIC.

Construction projects including housing, infrastructure, and tourism developments, the Gulf News added.

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