The investment commission in Karbala has signed a memorandum of understanding (MoU) with an unnamed Lebanese contractor to build 15,000 residential units south of the holy city.
The project is expected to take five years with 100-300 square metres allocated for each unit. No cost has been put forward for the project.
The local government has recently been driving new investment in the region, with a delegation visiting the UAE to appeal for new contractors to visit the province (MEED 10:2:09).
Local authorities have also set aside 100,000 square metres for the construction of an agricultural airport to serve the province.
The province is one of Iraq’s wealthiest and one of the country’s agricultural heartlands, and is particularly well known for the production of dates.
MEED recently revealed plans for a new $250 million airport to be built between Karbala and Najaf, serving the two holy cities (MEED 21:11:08).