At a cost of 1.4 trillion dinars, the establishment of the “Basra Homeland City” residential project has been announced.
At a cost of 1.4 trillion dinars, the establishment of the “Basra Homeland City” residential project has been announced.
2026-10-29
Shafaq News – Basra
The National Investment Commission in Iraq announced on Wednesday evening that it had granted an investment license for the “Basra Homeland Residential City” project, with a total investment cost exceeding 1.4 trillion Iraqi dinars.
The authority explained in a statement received by Shafaq News Agency that the project is located in Basra Governorate, and will be implemented in five consecutive phases by the same investing company, ensuring the highest standards of quality, modern urban planning and integrated services.
She affirmed the continuation of providing all necessary facilities and support for strategic investment projects that have a direct impact on the lives of citizens, especially residential complexes and cities that contribute to developing the infrastructure and supporting the wheel of economic development in the country.
She pointed out that granting this license comes within the framework of the Prime Minister’s initiative to provide one million serviced residential plots in all Iraqi governorates, which is consistent with the government program calling for the expansion of the establishment of modern and sustainable cities in the governorates.
This will be achieved, according to the statement, by creating new urban models that contribute to addressing the housing crisis, accommodating the increasing population growth, in addition to attracting national and foreign capital and providing thousands of job opportunities for young people and local technical and engineering personnel.
On October 10, Prime Minister Ali Faleh al-Zaidi laid the foundation stone for the project of one million residential plots (Homeland Initiative) in the governorates of Karbala and Najaf.
The “Homeland Initiative” is a large-scale governmental and service program aimed at addressing the housing crisis and distributing one million residential plots of land throughout Iraq.
Official estimates indicate that between 3 and more than 9 million people live in informal settlements, while the Ministry of Planning confirms the existence of about 104,000 completely informal housing units housing between 500,000 and 600,000 people, revealing a housing gap that goes beyond traditional figures and puts the country before a complex developmental test.
The Prime Minister’s Media Office had previously confirmed to Shafaq News Agency that the residential land plots within the “Homeland” initiative would be completely free, and would include all Iraqi families whose members do not own a housing unit or property.
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