The National Investment Commission has designated the holy city of Karbala as the starting point for the initiative to distribute one million residential plots, while preparations for the lands included in the initiative continue in several provinces, with Karbala identified as the initial starting point.
The commission stated in a statement received by "Vido News Agency" that the subcommittee formed from the Diwani Order Committee (260860), tasked with preparing the economic and financing model for the initiative, has approved a number of technical and economic decisions in preparation for the actual implementation.
The decisions included contacting the Central Bank to exempt participants and supporting financial institutions from the requirement of the financial efficiency platform to facilitate financing and accelerate procedures, as well as adopting the technical conditions and amending them according to the economic model and the feasibility study for each project.
The committee decided to start from Karbala, with the initiative subsequently moving to completed provinces, including Najaf, Maysan, and Baghdad, after holding coordination meetings with the governors.
The decisions also included granting real estate developers plots of 200 square meters, and announcing other lands in the northern and southern provinces, requiring developers to ensure the complete infrastructure for the residential units in coordination with the municipal departments.