Res­i­den­tial units to be built for those fi­nan­cially un­sta­ble

The Kurdish Globe - - FRONT PAGE -

The In­vest­ment Coun­cil held a meet­ing last week with the Prime Min­is­ter of Kur­dis­tan re­gion Nechir­van Barzani and his deputy Imad Ehmed. Is­sues such as In­vest­ment, agri­cul­ture, res­i­den­tial projects and tourism were dis­cussed ex­ten­sively.

The In­vest­ment Coun­cil held a meet­ing last week with the Prime Min­is­ter of Kur­dis­tan re­gion Nechir­van Barzani and his deputy Imad Ehmed. Is­sues such as In­vest­ment, agri­cul­ture, res­i­den­tial projects and tourism were dis­cussed ex­ten­sively.

One of the con­tentious is­sues was in re­gard to the res­i­den­tial projects. De­spite the li­cense of th­ese projects be­ing ap­proved, most of them were halted due to in­ter­nal is­sues. The High In­vest­ment Coun­cil de­cided to form a com­mit­tee in or­der to pre­pare a report that would high­light the ac­tual ra­tio of need in each province, and rec­om­mend pol­icy upon com­ple­tion of such a report.

The Prime Min­is­ter Nechir­van Barzani in­sisted that the pol­icy, and aims of Kur­dis­tan Re­gional Government (KRG) in res­i­den­tial projects is to serve those house­holds with low in­come, and to im­prove the sit­u­a­tion of many peo­ple in Kur­dis­tan re­gion by com­bat­ting the lack of res­i­den­tial units, “This is why KRG will work con­sis­tently to in­ves­ti­gate this is­sue, and to en­sure that each res­i­den­tial unit ful­fils its pur­pose in the near fu­ture”.

Many res­i­den­tial projects have been com­pleted by in­ter­na­tional or­ga­ni­za­tions, and the Prime Min­is­ter ex­tended his ap­pre­ci­a­tion, as well as thanks to in­vestors that em­barked on the projects while Kur­dis­tan re­gion was in need of them. He went on to say, “Kur­dis­tan re­gion has new de­mands: lack of qual­ity, neg­li­gence, and low stan­dard of work will not be ac­cepted or even al­lowed”.

In the meet­ing, it was con­cluded that at least one thou­sand res­i­den­tial units would be cre­ated in the three prov­inces of Er­bil, Sle­mani and Duhok. In ad­di­tion to the ser­vices pro­vided by the KRG, low-in­come fam­i­lies will be able to make the long-term loan for hous­ing with­out pay­ment in ad­vance. This is to help fam­i­lies and lessen the fi­nan­cial bur­den on them.

In­vestors will be given the op­por­tu­nity to pro­vide ser­vices within the res­i­den­tial units, how­ever they are not al­lowed to buy res­i­den­tial units, but can give in­vest­ment op­por­tu­ni­ties to other com­pa­nies. For in­stance, if one in­vestor fin­ishes 50% of the project, he is legally al­lowed to share the other 50% with an­other in­vestor.

The KRG will ex­tend ser­vices pro­vided to Sile­mani’s in­dus­trial city, pro­vided that all labors are lo­cally hired from Kur­dis­tan re­gion. The meet­ing con­cluded on the note that tourism projects in hot re­sorts such as Dukan and Safeen Moun­tain will have their own com­mit­tee to solve some of the is­sues which they are fac­ing.

KRG meet­ing on hous­ing prob­lems in the re­gion.

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