Damac eyes $15bn Iraq development
UAE developer Damac Properties is planning a $15 billion project in Iraq’s Kurdistan province to start by the end of the year, it announced yesterday.
The project, known as ‘Tarin Hills’, includes residential, commercial and hospitality buildings over 170 million square feet in the northern city of Arbil, Damac said.
CEO Peter Riddoch said the hills of Tarin would be “transformed into a [18-hole] golf course residential community with villas surrounding”. Damac chairman Hussain Sajwani said the first phase of the project would cost $4.5 billion and the total cost would be $14.98 billion. “We are very confident that Erbil’s unique topography has great potential to become an attractive destination for both high-end and mass tourism,” Sajwani said in a statement.
Full story: http://www.7days.ae/en/2008/06/04/damac-eyes-15bn-iraq-development.html
