Iraq’s National Investment Commission (NIC) has signed an investment contract with local developer Al-Ab’ad Al-Dhahabiya for Investment & Real Estate Development to construct the Abraaj Al-Ameriya residential project in Baghdad.

The development will comprise 1,620 housing units in the Ameriya district of the capital, located behind the American University of Baghdad.

Al-Ab’ad Al-Dhahabiya is a subsidiary of Iraq-based Al-Kamil Holding Group.

The signing was attended by NIC chairman Adel Dakhil Muhammad Al-Yasiri and deputy chairman Salar Muhammad Amin, in addition to a delegation from Al-Kamil Holding Group led by chairman Mustafa Kamil Abboud and Al-Ab’ad Al-Dhahabiya managing director Muhannad Kamil Abboud.

The project forms part of Iraq’s broader programme to engage private sector developers and international investors to address a nationwide housing deficit of an estimated 3 million units through new residential compounds and masterplanned satellite cities.