Baghdad – IA – Nassar Al-Hajj
Today, Friday, the National Investment Authority revealed the formation of committees to follow up on the sale of residential units in complexes around Baghdad International Airport, while identifying the reasons for the difference in their prices, stressing that the problems related to this matter will be addressed with the implementing companies.
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The authority’s spokesman, Muthanna Al-Ghanmi, told the Iraqi News Agency (INA): “The authority obligated the companies implementing residential projects to the specified prices that were set in the economic feasibility study of the projects, but due to exchange rate changes and the rise in construction costs, the cost prices and selling prices were adjusted.”
He added, “The amendment also came about due to the change in import and shipping prices, as well as the addition of conditions that must be met in residential complexes, including a liquid gas network, fire systems, and the installation of surveillance cameras, and the investor bears the costs of establishing electricity and secondary stations and establishing internal and external infrastructure.”
He continued, “Follow-up committees have been formed, for the purpose of comparing the feasibility study of the contracts signed with the implementing companies,” noting that “the Baghdad Investment Authority directed all investment bodies that granted licenses to investors to form sales follow-up committees in accordance with the established study.”
He pointed out that “the companies implementing the complexes sometimes contract with an office or company to promote, sell and market the residential units, without adhering to the specified prices, which was reflected in the selling price,” stressing that “these problems were addressed with the implementing companies.”
