The property owned by Kasr Al Waha in Baghdad is a 2.9 million square meter land. The property is 10 km away from the Baghdad city center with over 400-meter frontage on the expressway that was opened in early 2023, connecting Baghdad with the Basra Highway.
Al Oufoq for Development S.A.L. (Offshore), owns 90% of Kasr Al Waha L.L.C., an Iraqi company that holds title for the land. The remaining 10% is owned by Iraqi Partners. It is important to note that Kasr Al Waha’s foreign ownership by Al Oufoq, was one of the first to be approved in Iraq. The foregoing companies have been strictly funded by equity and shareholders’ loans.
We are in the final stages of establishing the limits of the property in order to launch the master plan for a small town, which will include in Phase 1 an attractive entrance to the property, near which will be a mall, an office park, an international school and a well-recognized university, along with a hospital, a hotel and a large gated community.
