Identifier
Created
Classification
Origin
05BAGHDAD4904
2005-12-08 14:33:00
UNCLASSIFIED
Embassy Baghdad
Cable title:
OPIC INQUIRY RE: ERBIL HOUSING PROJECT
how-toThis record is a partial extract of the original cable. The full text of the original cable is not available.
UNCLAS BAGHDAD 004904
SIPDIS
E.O. 12958: N/A
TAGS: EAID ECON EINV ETRD KPRV IZ
SUBJECT: OPIC INQUIRY RE: ERBIL HOUSING PROJECT
REF: STATE 201641
UNCLAS BAGHDAD 004904
SIPDIS
E.O. 12958: N/A
TAGS: EAID ECON EINV ETRD KPRV IZ
SUBJECT: OPIC INQUIRY RE: ERBIL HOUSING PROJECT
REF: STATE 201641
1. This cable is in response to questions posed in reftel
re: OPIC interest in Erbil Housing Project.
--------------
Scimitar, Bazian, and KRG Background
--------------
2. Iraqi contacts indicate that Scimitar Global Ventures
acts as a broker for investing in risky countries. Bazian
Investments, which is connected to the Barzani family, has
not been involved in the Erbil area in the past. According
to USG sources in Kirkuk and Erbil, the Kurdish Regional
Government (KRG) is able to meet contractual obligations
without difficulty, especially considering that the Barzani
family will likely be able to mobilize the KRG to provide
necessary support for the project. We were unable to uncover
any information about the Brusknet cable TV investment in
Sulaymaniyah.
--------------
Additional Information on Erbil Housing
--------------
3. According to USG sources in Erbil, there is a general
shortage of housing in Erbil. Investors, many of whom are
reportedly backed mainly by the Barzani family, are investing
in higher-end projects, such as Dream City, a 1,400-unit
planned community with prices averaging around $300,000 per
home. At the other end of the spectrum, internally displaced
persons (IDPs) returning to Erbil are finding it difficult to
find affordable housing, as are young middle-class people who
are looking for more independence through living away from
their extended families.
KHALILZAD
SIPDIS
E.O. 12958: N/A
TAGS: EAID ECON EINV ETRD KPRV IZ
SUBJECT: OPIC INQUIRY RE: ERBIL HOUSING PROJECT
REF: STATE 201641
1. This cable is in response to questions posed in reftel
re: OPIC interest in Erbil Housing Project.
--------------
Scimitar, Bazian, and KRG Background
--------------
2. Iraqi contacts indicate that Scimitar Global Ventures
acts as a broker for investing in risky countries. Bazian
Investments, which is connected to the Barzani family, has
not been involved in the Erbil area in the past. According
to USG sources in Kirkuk and Erbil, the Kurdish Regional
Government (KRG) is able to meet contractual obligations
without difficulty, especially considering that the Barzani
family will likely be able to mobilize the KRG to provide
necessary support for the project. We were unable to uncover
any information about the Brusknet cable TV investment in
Sulaymaniyah.
--------------
Additional Information on Erbil Housing
--------------
3. According to USG sources in Erbil, there is a general
shortage of housing in Erbil. Investors, many of whom are
reportedly backed mainly by the Barzani family, are investing
in higher-end projects, such as Dream City, a 1,400-unit
planned community with prices averaging around $300,000 per
home. At the other end of the spectrum, internally displaced
persons (IDPs) returning to Erbil are finding it difficult to
find affordable housing, as are young middle-class people who
are looking for more independence through living away from
their extended families.
KHALILZAD