Shwan Al-Mulla describes Erbil as ideal investment environment

The project aims to provide the infrastructure necessary for regional and international companies to establish bases for their operations in the city of Erbil in the Province of Kurdistan in northern Iraq. Shwan Al-Mulla, who founded Empire Holdings with Peshraw Al-Agha, called on private sector investors to follow the example of Empire Holdings founders and invest in the province, which is a natural gateway for commercial operations in Iraq, and which offers an empowering environment for low-risk and high-return investments. Al-Mulla described to journalists a vision for the private sector-led reconstruction of Iraq, to achieve sustainable development and enhance social prosperity and stability.

Shwan Al-Mulla emphasized the qualities of the investment climate in Kurdistan, in particular the recent enactment of the investment promotion law which offers attractive incentives for investment and guarantees equal treatment for both domestic and foreign investors. This builds on the other attractive aspects of Kurdistan, such as the political stability that has encouraged expatriates to return to their homeland, and oil revenues that are being employed to build a solid infrastructure. He called on the Arab and international private sectors to capitalize on the opportunities for low-risk and high-return investment to execute projects to the highest international standards. These investments, Al-Mulla said, will result in private sector-led growth, sustainable development, greater employment opportunities, and higher revenues and prosperity.

Continuing the presentation, Empire Holdings CEO Michel Hébert explained that the Empire World project, which broke ground in June 2006, covers 750,000 square meters of integrated commercial, residential, hotel and leisure facilities in a "mini-city" all-inclusive environment where a growing local and expatriate community can live and work while enjoying a comfortable and safe lifestyle in Iraq. The site is designed to provide its users with the latest and most sophisticated technology and services. The main feature of the project is the two towers that will be landmarks of Erbil. One tower will provide office space while the other will house a 5-star hotel run by an international hotel company.