Land Allocated for Iraqi Economic City in Partnership with Elsewedy Electric

The Iraqi Cabinet has approved the allocation of part of plot (1/89, District 14, Al-Haswa), currently owned by the Ministry of Finance and designated for the Ministry of Defence, based on the Defence Ministry's actual land needs.

A total of 2,400 dunams will be allocated to the Iraq Development Fund to contract with Elsewedy Electric for the establishment of an economic city, under the terms of a Memorandum of Understanding signed by both parties.

The remaining land will be allocated to the National Investment Commission (NIC) for the development of large-scale economic cities. The Cabinet also approved an exemption from Cabinet Decision No. 169 of 2022 for this land allocation.