Iraq continues to expand its public-private partnerships through a new investment opportunity in Bismayah Residential City. The National Investment Commission (NIC) has opened two 15-year investment contracts to handle operations and maintenance in the city. These contracts fall under Investment Law No. 13 of 2006.
Additionally, each opportunity targets one of the major residential blocks in Bismayah. Companies may apply for one or both contracts. This investment opportunity in Bismayah Residential City covers full maintenance and management responsibilities. The NIC expects high standards of service and strict compliance with guidelines.
Investors must handle services such as electronic management, infrastructure repairs, landscaping, waste collection, and utility system operations. They must also oversee building maintenance, pest control, fire safety, drainage systems, and security equipment. The scope extends to repainting and structural upkeep using original building materials.
Therefore, the NIC requires applicants to submit full company documents. This includes audited financial reports, past experience in similar projects, and technical execution plans. Investors must also pay a non-refundable application fee of 5 million Iraqi dinars.
In addition, the NIC demands a bank guarantee worth 125 million dinars. This amount ensures the investor does not withdraw after the award. Any withdrawal triggers forfeiture of the full guarantee.
Successful companies will collect a monthly service fee of 30,000 dinars from each housing unit. Furthermore, they must pay a minimum of 10% of their total revenues to the NIC as part of the agreement.
The government will assign an independent consultancy office to supervise the performance of both investors. The investors must cover the consultant’s fees. Both companies will share the responsibility for several citywide facilities. These include Entrance 4, the utility lines from the treatment plant to the boundary, and the main service tunnel.
Any party that fails to meet service standards must fix the issue within seven days of written notice. If not, the NIC will take legal action to enforce compliance.
This investment opportunity in Bismayah Residential City provides a long-term chance for companies to contribute to Iraq’s growing housing sector. The NIC invites sealed proposals for submission at its Green Zone office within the specified timeline.