Abu Dhabi-based real estate investment company Al Maabar announced this week that it planned to launch a $10bn project in Baghdad, the first real estate project of this scale to be unveiled in Iraq since the 2003 invasion.

The company is backed by all four major Abu Dhabi developers; Aldar, Sorouh, Reem and Al Qudra, and the announcement comes hot on the heels of a surprise official visit to the Iraqi capital by the emirate's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan.

The $10bn investment is the largest foreign financial real estate project to be unveiled in Iraq. It is planned as a mixed-use facility, including specific residential sectors, a commercial district and a hospitality district with a number of hotels and entertainment facilities including a theatre cinema and golf course.

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Posted by boyang at October 16, 2008 7:44 AM