May 8th 2011
Al- Saqar Al- Jareh company has presented a residential investment project to BIC, the project is about constructing” Al- Basra New City”.
The director general of the company, Sarah Hameed Meran, said that,” The project plan includes the construction of 5280 residential unit in a modern vertical design, in addition to 963 villas, shops, shopping centre, service buildings, schools, Mosques, Sport and health centers, water desalination plant and power plant”. Indicating that,” the cost of the project is 939 million dollars to be achieved in 10 years and that the project requires an area of 450 acres”.
For his part, the chairman of BIC, Eng. Haider Ali Fadhil, confirmed his full support to the project as well as his readiness to provide all the possible facilities like allocating a suitable land lot for the project and obtaining the approvals of the central and local government to start it. Adding that,” the residential sector represents a top priority for BIC in an attempt to solve the housing problem in Basra”.