Investment sets a condition for reopening the sale of Basmaya apartmentsشقق

by **claud39** Thu Jun 03, 2021 12:58 pm

Investment sets a condition for reopening the sale of Basmaya apartmentsشقق

06/03/2021

Economy News _ Baghdad

On Thursday, the National Investment Authority set a condition for reopening the sale process for the apartments of the Basmaya residential complex, and while it confirmed that granting investment opportunities depends on two factors, it revealed its procedures for granting licenses.

The head of the commission, Suha Al-Najjar, said in an interview with the Iraqi News Agency, and followed by "Al-Iqtisad News", that "the reason for stopping the sale of Basmaya apartments earlier is due to the exhaustion of apartments in the complex due to the amount of requests submitted to purchase them," noting that "the timing of reselling the apartments is required to be Available again."

Regarding the Bismayah road, Al-Najjar confirmed that “the road is included in the 2021 budget and will be implemented within the allocations of the Ministry of Construction and Housing,” noting that “there is coordination between the authority and the ministry regarding the road and the company has started to work.”

Regarding granting investment opportunities, Al-Najjar stressed that “the commission applies a certain mechanism when granting investment opportunities,” pointing out that “this is by announcing the project’s proposal for investment, and referring it to a committee composed of the owner, the sectoral authority, and the investment authority to ensure that there is competition and transparency, And it is not limited to a specific investor.

And she continued, "The problem of investment in Iraq is that the law has not been applied previously," explaining that "giving the investment opportunity depends on transparency and competition after the introduction of the owner and the sector."

She pointed out that "the commission was previously granting investment licenses without reference to the owner or sectoral authority, as it is granted to the investor who goes to the sectoral body and the owner to approve the land and the design," explaining that "the granting of the license is currently dependent on the approval of all the aforementioned parties, to be followed by that announcement." about the investment project and refer it to the investor to start work immediately without waiting for years because he did not obtain official approvals

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