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ERBIL, Iraq, June 3 (UPI) -- The Dubai-based Damac Properties Tuesday announced plans to develop a 170 million-square-foot development in Iraqi Kurdistan.
Damac issued a release announcing the launch of the Tarin Hills development in Erbil. It is the first Damac development in Iraq.
The development includes residential, retail, sports facilities and its own gas station, the statement said.
Damac officials announced the plan in a joint news conference with Kurdish Prime Minister Nechirvan Barzani.
"The Tarin Hills development will not only help promote the global face of Erbil, it will also create jobs and support growth in related sectors, such as tourism and hospitality," Barzani said.
A 10-floor medical facility is planned to address the healthcare needs of future residents and the overall community.
"We are happy to contribute to the development of a new Kurdistan and believe that this investment will contribute towards the growth phase of the region and a landmark in Iraq development," Damac Chairman Hussain Sajwani said.
The initial phase is expected to be valued at $4.5 billion.
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