South Korean group to build 500,000 homes in Iraq
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South Korean group to build 500,000 homes in Iraq

South Korean group to build 500,000 homes in Iraq

Iraq's National Investment Commission has signed a memorandum of understanding with South Korea's Hyundai, SK and POSCO to build 500,000 housing units in different parts of the country, Reuters has reported. The deal is expected to have a total value of $25bn, based on a previous statement by the commission that each housing unit was expected to cost $50,000. The final deal is expected to be signed in January 2011, Dhiyaa al-Khayoon, a deputy minister of finance, said.

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