Bloom Properties , a National Holding company and an Abu Dhabi-based master developer of communities and lifestyle, and the Iraqi Ministry of Construction and Housing, signed a cooperation agreement pledging to work towards the development of real estate projects in Iraq.
The synergy will witness the construction of commercial and residential units, in addition to institutions such as schools and sports clubs for Iraqi government entities.
The agreement was signed between a representative from the Iraqi Ministry of Construction and Housing and Ahmad Khalaf, General Manager of Bloom Properties Iraq. The signing ceremony was witnessed by His Excellency Muhammad Saheb Al Draji, Iraqi Minister of Construction and Housing, Simon Azzam, CEO of Bloom Properties , as well as senior representatives from the Iraqi Ministry and members of the media.
Commenting on the agreement, His Excellency Muhammad Saheb Al Draji said: "The process of reconstructing Iraq requires the collaborative efforts of diverse industries to ensure the development of infrastructure and self-contained communities. Our agreement with Bloom today acknowledges and applauds the key role that the master developer continues to play in restoring the real estate sector in Iraq."
Earlier this year, the Iraqi government appointed Bloom as master developers for a project in the Karbala province comprising 40,000 houses, schools, universities, clinics, hospitals, mosques, retail outlets, sports fields, recreational centers, gardens, parks, hotels and hotel apartments.