Thread: Iraq/Dinar News Up until April 5th 5PM CTZ.

Foreign investors started to buy land in areas of religious tourism investment law, the new soaring market pw
01 / 04 / 2007

Foreign investors started to buy land in the areas of tourism investment law, the new religious soaring real estate market
Baghdad :> Middle East>

Hours Iraqi new investment law and endorsed by the Iraqi government a few days ago, the real estate market that was apparently waiting for such a law, which allows any investor regardless of the nationality, the right to own land and rented to be used in various projects including housing and hotels sectors.

Although the law allowed the former Iraqi forces, including some Gulf and the Iranian ownership of buildings, especially in the areas of tourism, religious, but they are conducted in accordance with bilateral agreements concluded between Iraq and those countries as they did not enjoy legal protection feature. And this transformation we met a concerned religious tourism investment projects in Iraq, Majid Hamid, who said : <that the new law contains many provisions that relate to the real estate market in Iraq and remind them to allow foreign investors regardless of his nationality, and for investment projects in return for the right to own land between him and the owner of the land without speculative land>.

The law also allowed him to lease the land for the project or for the duration of Almsatha where the project is based on not more than 50 years, renewable for approval of the investment. The draft law also grants hotels and tourist establishments additional exemptions from import duties on furniture, furnishings and supplies for the purposes of modernization and renewal once every four years.

The foreign investors also enjoy additional benefits in accordance with the international agreements between Iraq and their own or international multilateral conventions Iraq had joined them and other exemptions enjoyed by the project include taxes and fees for a period of ten years from the date of commencement of operation and increase the number of years of tax exemption is growing direct relationship with the increasing rate of participation Iraqi investor in the project for up to 15% participation in the event by more than 50%>.

The Hamid <that these decisions has reconsidered the real estate market in Iraq was circulated only to the Iraqis and also the apprehension of the investor foot on purchase of the lack of guarantees to protect its investment, even though they exist. But we have noticed that most of their investments were to participate, especially in some areas was religious Iraqi retains ownership of the land with finances or Iranian or Bahraini Kuwaiti and even from other nationalities such as the Bohra Indian and some Muslim minorities in Europe, financed those projects to build hotels, the Khans devoted exclusively to exploit them in times of visit holy sites.

Now it is able to retain ownership and officially registered in his name and immediately moved some of the law offices and real estate speculators in this market to buy everything has been put up for sale and also began the move some of the land which lies outside the borders of the governorates and also CARROT owners on the sale in the hope of selling them to investors prices are unimaginable and during periods of very short.

There is information indicating that the real estate offices in Iran and Bahrain began to send its delegates to sign a contract to buy land in the provinces of Najaf, Karbala, Baghdad and other areas. As is well known that these two countries have huge capital and the need to invest in particular space.

Conversely Iraq provided a golden opportunity for investors concerning tax exemption and other in attracting capital and this would raise the real estate market, especially because any of the first begins from the ground. One of the experts and economists involved in the follow-up developments of the Iraqi economy and the market in the Iraqi Planning Ministry Between told <Middle East>, that Iraq is now in dire need of all these variables, all of them will be channeled to favor including the high value of real estate.

Economic outline of the law was designed to attract capital and the bearing of all these facilities, which are rarely available in the similar laws of other states. Any of the projects will be set up in Iraq, including the housing and hotels it is also one of the objectives of the economy because it means increased infrastructure and external financing may not be available to the Iraqi investor at the present time. The rise in real estate prices Yes, it will affect the Iraqi people but will flow more funds for Iraq, and this implies a high annual growth rate will be good for the Iraqi economy in general and in the interest of the private sector also>.

As for the price trends of the real estate sector Iraqi Between Abdul Rahim Albaoui the Office of the property Albaoui <that real estate prices in Baghdad started after the implementation of the security plan, but the recovery has not yet reached the same level prior to that preceded the wave of sectarian strife after the bombings of Samarra.

There is also a continuing migration of Baghdadi families to other areas and also out of Iraq, especially after hearing the news that the United States of America to give humanitarian asylum to the Iraqis. Conversely there is a desire in many of the families in the areas of improving the livelihood especially since real estate prices are high areas now appropriate and security is improved, there is a broad started a few days ago to buy Zionh role in the Mansour neighborhood after the university to sell their role, which is in other parts of Baghdad less level>.

As for the real estate prices in the provinces were tended in some of the decline due to a decrease in demand recently due to the return of displaced persons and this includes areas of Diyala, Wasit and southern governorates of Basra, but also Babel.

The real estate governorates, which has a special religious can say that the sale and purchase of the proceeding cautiously as fears that the real estate owners abandon their properties at prices lower than it will be a month from now, especially with the start of implementation of the Investment Law

Translated]Translated version of http://marsadiraq.com/%5DTranslated version of marsadiraq.com

Felt this was important enough to bring over to this page....

Finance Minister : has been reduced 80% of Iraq's debt and the number of countries that have reduced their debt to 54
01 / 04 / 2007

Mr. Minister of Finance said that the follow-up Aldebh had produced a reduction of 80% of Iraq's debt obligations under the practices of the former regime. As the number of countries that have reduced their debt (54) State. For his part, praised Al-Sharif Ali Bin Al-Hussein, Minister of Finance role in the promotion of the Iraqi economy and its players in the completion of the budget in 2007 and maximize the state resources towards building a new Iraq.

Originally Posted by Lunar

Foreign investors started to buy land in areas of religious tourism investment law, the new soaring market pw
01 / 04 / 2007

Foreign investors started to buy land in the areas of tourism investment law, the new religious soaring real estate market
Baghdad :> Middle East>

Hours Iraqi new investment law and endorsed by the Iraqi government a few days ago, the real estate market that was apparently waiting for such a law, which allows any investor regardless of the nationality, the right to own land and rented to be used in various projects including housing and hotels sectors.

{{{{{{{snip}}}}}}

The real estate governorates, which has a special religious can say that the sale and purchase of the proceeding cautiously as fears that the real estate owners abandon their properties at prices lower than it will be a month from now, especially with the start of implementation of the Investment Law

Translated]Translated version of http://marsadiraq.com/%5DTranslated version of marsadiraq.com

Felt this was important enough to bring over to this page....

WEEEEEEEEEEEEEEEEE!!!!!!!!!!!!!!!!

Originally Posted by Hardwood

If you look at today's "Auction" you see that there were 13 banks participating and the volume was eerily low...

Today was basically a "Sale" and not an "Auction" since they announced earlier that they were "Pegging" the Dinar.

Also, we saw that today was formerly a religious holiday, but they decided to rescind the holiday in order to conduct business.

Then the article today about some banks not honoring the smaller denominations, and the rebuttal from the government stating their disapproval of such practices within the banking system.

The Investment Law will take effect in a matter of days, according to previous articles.

The Hydrocarbon Law is all but a done deal and may actually be done for all we know.

The 2007 Budget goes into effect today.

There is a HUGE tanker sitting in port.

The Middle Eastern countries are close to a reval of their currencies.

Kuwait is staving off speculators.

OK, is that enough ammunition to form a very optimistic opinion today?

This bubble is about to burst, the lid's gonna blow off the pressure cooker, the train is pulling into the station.... pick your cliche'

This will be the BIGGEST week in Iraqi History. Mark my words.

Thank you and have a great day!

And...the ISX should be opening up to foreign investors soon!!

I'm with you HW--Let's hear my mantra again--

The Dinar reval'ed in April of '07....I quit my job, then I went home!!

(I'm a commercial sailor, so work= being away from home for at least 6 months at a time...)

Cheers!
OrdinarySeaWoman

Lunar, I usually don't go in for big public displays of affection on these forums, but I'll tell you what I'm grabbing you up and dancing round the room with you right now. Your find gets my vote for the best freakin article of the day!!!!

Originally Posted by ordinaryseawoman

Lunar, I usually don't go in for big public displays of affection on these forums, but I'll tell you what I'm grabbing you up and dancing round the room with you right now. Your find gets my vote for the best freakin article of the day!!!!

Me either but under the circumstances I'm cool with it....lol It's fantastic news!!

Report : Central basic price for the auction, buying the yacht in 1271 dinars / $
01 / 04 / 2007

Report : Central basic price for the auction, buying the yacht in 1271 dinars / $
The opening of the auction, the daily fourth and 90th HUNDRED for buying and selling foreign currency in the Central Bank of Iraq on Sunday, April 1, 2007, the number of banks contributing to the auction, the 13 basic price for the auction sale yacht dinars / $ 1273 The basic price for the auction, buying the yacht in 1271 dinars / $.

2-the amount sold by the bank at auction forty-two million eight hundred thousand (dollars), and the amount of the buyer by the bank at the auction (dollars), 19.6 million.

3-total purchase offers forty-two million eight hundred thousand (dollars) Total sales presentations (dollars), 19.6 million.
4-Saaralbia of remittances 1272 dinars / $.

Five-cash sales price (1284) dinars / dollar buying rate of monetary 1282 dinars / $.

6-quantity sold at 6.6 million dollars in cash and remittances estimated at thirty six million two hundred thousand dollars.

Translated version of http://marsadiraq.com/

Originally Posted by ordinaryseawoman

Lunar, I usually don't go in for big public displays of affection on these forums, but I'll tell you what I'm grabbing you up and dancing round the room with you right now. Your find gets my vote for the best freakin article of the day!!!!

WOoT!!!

Originally Posted by shotgunsusie

WOoT!!!

hey guys wait for me i want to do a big woot also but all my computor knows how is to do these little WOOTS

Originally Posted by ordinaryseawoman

Lunar, I usually don't go in for big public displays of affection on these forums, but I'll tell you what I'm grabbing you up and dancing round the room with you right now. Your find gets my vote for the best freakin article of the day!!!!

Lunar been doing it all Day. Relax Bob, this is the Exciting Times........Maybe?........But stay on the Iraq/Dinar News or Bob will get us. Yaba Daba Do. Didn't say no ybdbd's.