Engineer Abdullah Atatreh, Chairman of Bonyan International Investment Group (Holding), one of the major real estate development companies in the UAE, announced a partnership and a strategic alliance with the Iraqi Al Hanthal Group, one of the most prominent real estate developers operating in Kurdistan Iraq. This partnership will lead to the establishment of the new company "Bonyan Kurdistan".
This new company aims at putting the professional expertise and capabilities of Bonyan International Investment Group which already developed major projects in the UAE and several Arab countries, contributing to the development of Kurdistan.
Engineer Abdullah Atatreh said that "Bonyan Kurdistan" will shortly be launching a first of its kind Mega Real Estate project in Iraq Kurdistan called "Bonyan Al Sulaimaniya City", an integral and modern project comprising residential and commercial towers, villas, shopping malls and two hotels. Bonyan Al Sulaimaniya city will cover approximately an area of one million square meters and is located in Al Sulaimaniya province.
"The project's architectural plans are being currently finalized and are expected to be completed within 3 months. The project is divided into several stages, the first of which will be completed by 2010", he added.
Moreover, he mentioned that "Bonyan Kurdistan" is planning on developing other projects in Kurdistan and are currently studying further investment opportunities in Arbil and Dahuk.
Engineer Wadih Al Hanthal, Chairman of Al Hanthal Group, explained that "Bonyan Kurdistan" enjoys the full support of the Iraqi Kurdistan government, which is planning on developing the project and is working hard on attracting international investment companies.
He also stated that Bonyan Kurdistan gained the attention of the government and the support of both, the Prime Minister Mr. Nechirvan Barzani who gave his blessing to the partnership joining the two parties, and the Deputy Prime Minister Mr. Omar Fattah who kept a close eye on the procedures related to the company and the project. Bonyan International Investment Group and Al Hanthal Group praised the big support and care given by Mr. Herrish Muharam, head of Kurdistan's Board of Investment for "Bonyan Kurdistan" projects.
Kurdistan is located in northern Iraq. Its unified government is ruled by Nechirvan Barzani who was elected in January 2006. Kurdish and Arabic are its two official languages and the population exceeds 5 million. Kurdistan, rich in natural resources and agricultural products comprises three provinces: Arbil, Al Sulaimaniyah and Dahuk, all known for their picturesque nature, with lakes, rivers, high mountains and plains abounding the region.
Kurdistan, a secure region, witnesses a fast-growing construction sector and a steady economic expansion, in addition as a result of an increase in the volume of national and foreign investments, especially Turkish and Americans, who now reached billions of dollars.
Source: Property World Middle East