By John Lee.
Prime Minister Mohammed S. Al-Sudani oversaw the signing of a Memorandum of Understanding between the National Investment Commission (NIC) and Egypt’s Talaat Moustafa Group for Real Estate Development (TMG) to develop part of the economic zone in Al-Rafeel [Rafael] City, west of Baghdad.
The agreement involves Iraqi-Egyptian-Saudi investment and includes participation from Saudi Arabia’s Al Muhaidib Group.
The MoU aims to attract investments across multiple sectors and was accompanied by a presentation of city plans, covering land allocation, infrastructure, schools, hotels, and service facilities.
Al-Sudani reiterated the government’s commitment to facilitating investment and accelerating strategic development initiatives. Talaat Moustafa Group CEO Hisham Talaat Moustafa confirmed readiness to initiate implementation procedures.
(Source: Media Office of the Prime Minister)
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