The Iraqi cabinet has concluded preliminary negotiations with UAE based construction firm Maabar for the country's USD 21 billion Rashid Housing project.

Mr Salam Qurayshi an adviser to the council of ministers said that Rashid Barracks in Baghdad are planned to be turned into a housing complex with 72,000 housing units as well as shops, amusement facilities and tourist attractions. The final contract is to be signed by the end of 2011.

Mr Mohammed Al Rais senior VP and MD of Hill International said that Iraq together with Saudi Arabia represent the most substantial regional construction markets at present. We anticipate the biggest growth in Saudi Arabia and Iraq. These will surpass any other markets, Qatar and anywhere else.”

(Sourced from Construction Week Online)