Bloomberg News

Jordan’s Aphrodite Wins $240 Million Iraq Housing Contract

April 09, 2012

Jordan’s Aphrodite Trading Co. won a $240 million contract to build 2,500 housing units in northern Iraq, according to Jawhar Hamad, the president of Salahuddin Investment Commission.

The project will be carried out within three years in the city of Tikrit, Salahuddin province, Hamad said in a phone interview today. The province needs 19,800 residential units to satisfy demand, he said.

Iraq, which holds the world’s fifth-largest crude reserves, is seeking foreign investment to help rebuild an economy and infrastructure damaged by years of conflict, sanctions and lack of investment. In March 2010, the government approved a plan to build 1 million homes by 2014 for low- and mid-income families to reduce the country’s housing shortage.

To contact the reporter on this story: Khalid Al-Ansary in Dubai at kalansary@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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