PROJECT UPDATE
LATEST REGIONAL
PROJECT UPDATE
IRAQ
The National Investment Commission (NIC) of Iraq is to
sign a deal with Emaar Properties of Dubai and Eagle Hills of
Abu Dhabi to begin work on the 64,000-home Al-Rashid City in
southern Baghdad, Iraq.The Iraqi cabinet has announced it has
agreed that NIC will complete contractual procedures for the
Al-Rashid City project with Emaar and Eagle Hills and award
them the project after reaching agreement on the final
form of the contract in line with NIC requirements.
EGYPT
Egypt and Saudi Arabia have signed an agreement to develop
more than 1,000 square kilometres of Egyptian lands south
of Sinai. The two countries have signed an environmental
agreement to protect the marine environment and prevent
pollution of coral reefs and beaches. This will occur before
Saudi Arabia starts work on the Red Sea projects.
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