Baghdad needs $100bn to build 1m new homes, says mayor
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Baghdad needs $100bn to build 1m new homes, says mayor

Baghdad needs $100bn to build 1m new homes, says mayor

The mayor of the Iraqi capital has said that the country needs $100bn in investment to build one million new homes in Baghdad and meet a shortfall in residential property for its growing population, Reuters has reported. Around 80% of the total figure would come from investors and 20% from the government, Saber al-Issawi said. Baghdad has earmarked $1.5bn for residential and infrastructure spending in 2011 but this figure has yet to be approved by the government and could be revised lower, he said.

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