The government of Saudi Arabia has agreed to fund a $1bn mixed-use development in Baghdad.
The Jadat Baghdad (Baghdad Avenue) scheme will be built in the Al-Rafil area of the Iraqi capital, near the city’s international airport. It will include 6,500 homes and Iraq’s largest shopping mall, as well as leisure facilities and offices.
The deal was announced on Monday by Abdul Aziz Al-Shammari, Saudi Arabia’s ambassador to Iraq. He told Iraq’s INA news agency that the deal was the result of the two countries’ “wonderful” relations, which was beginning to “bear fruit”.
He said the Baghdad Avenue would be “a distinguished project and a surprise to all Iraqis”.
He added: “It will be the largest mall in Iraq and will include cafes and restaurants with large areas and commercial offices for major Iraqi companies, in addition to 4,000 apartments and 2,500 villas.
As well as the real estate deal, a team from the King Salman Medical Centre met with their Iraqi counterparts to discuss medical issues, and other officials held economic and cultural meetings with a view to making further investments in the future.
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