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Nechirvan Barzani opens 'Billion-Dollar' Trade
Centre in Kurdistani Erbil
10.2.2007
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February 10, 2007
Erbil, Kurdistan region (Iraq), – Kurdistan
Prime Minister Nechirvan Barzani, on friday opened
the first phase of the Nishtiman Trade Centre
project in Erbil, the Kurdistan Region's capital.
An Iraqi consortium has completed the first stage of
what was billed yesterday as the billion-dollar
Nishtman Trade Centre in Erbil, Kurdistan autonomous
region (northern Iraq) and is to boast three
25-storey office towers.
Nizar Hanna, chairman of the Nasri Consortium and
head of the project, said eight per cent of the
centre city project had been achieved since 2002,
and gave 2010 as the final completion date.
Investors include his consortium, the Iraqi Trade
Bank and the Al Omar investment group, Hanna said.
"We got the land from the government of Kurdistan
for a symbolic price meant to encourage investment,"
he added. |
Kurdistan Regional Government (KRG) Prime Minister
Nechirvan Barzani. |
Kurdish Prime Minister Nechirvan Barzani called the
centre an important project that would create jobs
for Kurds and help local businesses.
"Iraqi Kurdistan's doors are always open to
investors," Barzani said.
Parking for 5,000 vehicles is also in the works.
The centre's designers were identified as the
Dubai-based Middle East Company for Reconstruction.
In his speech at the opening ceremony, the Prime
Minister said, “this significant project will be a
turning point for the concepts of renewal and
modernisation and for working and marketing methods
in our Region.” He added, “The importance of this
project is that it provides new working
opportunities for our people, which will help to
improve their families’ living conditions.”
Prime Minister Barzani thanked the Middle East
Company for Reconstruction and Investment for
implementing the project and successfully completing
the first of its five phases. The Nishtiman Shopping
Mall is in the heart of Erbil, near the ancient
citadel. The first phase comprises 800 shops and 400
offices, and the investment for all five stages is
close to one billion US dollars.
In the past the Middle East Company for
Reconstruction and Investment built the Khanzad
Hotel and renovated the Erbil International Hotel in
the capital city.
The Prime Minister urged local investors to
participate in the economy and to benefit from the
Investment Law, enacted last July, that supports
both foreign and local investors and capital owners.
He said, “It is time for local investors to give up
the culture of thinking only of quick profits or
being unable to think of investment based on a
programme and a long-term plan. We are ready to help
them.” He urged people to look for job opportunities
in the private sector, in agriculture, industry,
construction and services.
He also congratulated the chambers of commerce and
industry in Kurdistan on the announcement of their
union, which he said would support the
reconstruction process.
Read the full transcript of the Prime Minister’s
speech
http://web.krg.org/uploads/documents/PMSpeech8Feb07__2007_02_09_h20m35s28.pdf
Agencies | gulf-daily-news | krg org
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