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Damac, holds the greatest investment in the region
All of the causes are ready to increase the Kurdistan position on political, social, cultural and economic fields. May stability is the main cause for these effects. Regional government tried to make better condition for Kurdish people in services and governmental fields. Kurdistan prime-minister Nechirvan Barzani had signed an agreement with Damac Company in Dubai on 3 June 2008 which coasts 4 Billion dollars. The agreement follows with some tourism projects as hotels and green area in Kurdistan region. The economic condition of the Kurdistan region interested many companies around the world. Investment law puts the area in a unique status that makes it developed. "We always try and work to reconstruct our country and most fields have been succeeded" Barzani said during the assignment ceremony of the agreement. Many Arab, Turk, and other foreign companies try to make a suitable economic position for their selves in Kurdistan. It caused that there are more than 1200 foreign companies in the region. In other hand, the head of Damac Company said: "we held many great projects in the most countries of the world, but Kurdistan is the best place for us, because Kurds respect us, and also Kurdistan has a good stability to work and act". Damac applies a construction project in Erbil which is known as "Tarin Hells" and will be built soon as soon. Also the company will build a settlement collective and a market place in Erbil city. As the first part of the project it coasts 4.5 Billion dollars and all the project will be finished by about 15 Billion $. The agreement contains some other projects, like golf yard, health center, tourism places, hotel and some related things as villa. "The project (Tarin Hells) is the greatest project during the Kurdistan region history", The Governor of Erbil "Nawzad Hadi" mentioned. He added also: " the project will help Kurdistan economic to attend the international economy and the region will take a global direct" Hadi added: "Damac has a long history about construction and settlement fields, by the presence of this company the mentioned fields of the area will be developed by the end". There are many investment projects in Kurdistan and especially in Erbil. According to Nawzad Hadi speech, about 11.5 Billion dollars projects are invested in Kurdistan and about %85 of them are located in Erbil. He added: "53 projects are allowed by Kurdistan Board of Investment in Erbil and the general amount of them in Erbil is more than 9 Billion dollars and the other remained amount is referred to the other cities of Kurdistan region". Construction projects have the main role to rebuild the infrastructure of Kurdistan economy.
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