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DEVELOPMENT NEWS FROM IRAQ

We have selected few related news regarding infrastructure projects being developed in Iraq. Some of the projects had been announced recently and others from previous periods.

Iraqi project Tower of Harp has high future prospects

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Two UAE based developers have stated that they have signed a deal for a $4.5 billion residential and commercial project in Baghdad that would be one of the county's biggest non-oil investments.

The new Iraqi parliamentary building is to be built by Zaha Hadid

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According to an architectural journal, Zaha Hadid has been awarded the project for designing the new £630-million Iraqi Parliament building in Baghdad.

First Hyatt-Branded Hotel to be opened in Iraq

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Today, Hyatt Hotels Corporation announced that a Hyatt affiliate has entered into a management agreement with Claremont Group LLC, a New York-based real estate development company, for a Hyatt Regency hotel in the Kurdistan region of Iraq. Expected to open in 2017, Hyatt Regency Sulaymaniyah will be the first Hyatt-branded hotel in Iraq.
Peter Norman, senior vice president, real estate and development, for Hyatt Hotels & Resorts in Europe, Africa and the Middle East, stated, "Bringing the Hyatt brand to Iraq is one of the most exciting projects we have in development.

Despite unrest, Big Oil will invest $25 billion next year in Iraq

 

Iraq’s deputy prime minister for energy said that Big Oil is poised to spend over $25 billion next year to boost output from Iraq's giant oilfields towards record rates. Far from harm's way, the prized oilfields of southern Iraq - drivers of the country's oil expansion - are expected to pump an extra 500,000 barrels per day (bpd) in 2014, said Hussain al-Shahristani. Total output this year is set to average just over 3 million bpd, holding Iraq's rank as Opec's no. 2 producer.
 

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