Baghdad - INA
Daiko International clarified the details of its investment project on Thursday, emphasizing its commitment to the law, transparency, and readiness to cooperate with regulatory bodies and provide all official documents.
In a statement received by the Iraqi News Agency (INA), the company said, "Daiko International, a leading company in real estate investment and development, has followed with great interest the statements made during a session of the Iraqi Parliament concerning the company and its investment project in the Republic of Iraq."
The company added, "Based on its professional responsibility and unwavering commitment to the principles of transparency and compliance with the law, and its keenness to inform the Iraqi public and all state institutions of the facts and realities related to the project, the company wishes to clarify the following: First, Daiko International did not enter the Iraqi market seeking special privileges or exceptional treatment. Rather, it entered with its investments, international expertise, and financial and technical capabilities, believing in Iraq's promising opportunities and significant potential, and desiring to be a genuine partner in development and reconstruction efforts, particularly in the housing sector."
It continued, "The company enjoys strong financial standing and an international track record in executing major investment and real estate projects. It is currently working on one of the most important residential projects in Iraq, adhering to advanced engineering and construction standards, with the participation and supervision of specialized engineering and technical experts, and in accordance with the best international practices adopted in the real estate development sector."
The company affirmed that "all procedures related to the investment project have been completed and are being monitored and finalized in accordance with applicable Iraqi laws, based on approvals, decisions, and legal procedures issued by the relevant official authorities, with full commitment to respecting the rule of law and the powers of state regulatory and judicial institutions."
The company clarified that "the issues raised regarding the project do not reflect all the facts and official documents related to it, and that an objective evaluation of the project should be based on approved legal documents, on-site realities, actual progress, and the official procedures undertaken, not on fragmented or incomplete information."
The company also noted that "within the framework of the company's social responsibility and its commitment to contributing to the service of Iraqi society, Daiko International has initiated a project to construct 7,000 housing units to be handed over to the Iraqi state free of charge, for allocation to eligible citizens and families, as follows:
1- 1,000 housing units in each of the southern governorates specified by the Prime Minister's Office (Maysan, Muthanna, Diwaniyah, Basra, and Dhi Qar), in addition to 2,000 housing units in Baghdad. 500 plots of land in Baghdad Governorate/Al-Nahrawan area were officially handed over on May 11, 2025, and work is currently underway, with a completion rate of 23.24%. Another 500 plots of land in the same area were officially handed over on April 14, 2026.
2- The initial location of 1,000 housing units in the area surrounding Al-Jawahiri City in Baghdad has been identified in coordination with the Urban Development Authority, as per their instructions, for the purpose of actual handover and commencement of construction." Work is underway.
3- The area allocated for 1,000 housing units in Diwaniyah Governorate, specifically within the Abu Shalab district (17) located within the governorate's boundaries, has been designated according to an official agreement with the governorate. Work will commence immediately upon proper handover of the land.
The company added: "According to the updated executive status dated July 4, 2026, the total area for all phases of the community housing project in Baghdad, for the first 1,000 units, is as follows: Phase 1: 103,465 square meters; Phase 2: 153,160 square meters."
The company further stated that "the actual completion rate of the project as of the aforementioned date has reached 23.24%, while construction continues at an accelerated pace. Currently, work is underway on 351 villas within Phase 1 and 89 villas within Phase 2, according to the approved executive program and with the participation of specialized engineering and technical teams, under the direct supervision of the New Cities Implementation Authority. Preparations are also being made to begin construction on the second 500 housing units upon completion of the necessary procedures with the relevant authorities." The company explained that "the construction work for the units in Diwaniyah Governorate has not yet commenced due to the land allocated for the project not being officially handed over to the company. This is a matter beyond the company's control. The company is ready to begin work as soon as it receives the land and is granted access to the site in accordance with the approved legal and technical procedures."
It noted that "this social initiative represents an unprecedented project in terms of its size and nature, embodying the company's commitment to its responsibility towards Iraqi society and its keenness to ensure that its investments have a direct and sustainable social and developmental impact."
The company emphasized that it "is proud to commence the project using its own financial resources, without receiving any advance payments or deposits from buyers, based on its belief that trust is built through tangible achievements on the ground before engaging in any marketing or sales activities."
It affirmed that it "financed the project entirely from its own resources, without obtaining any loans, financing, or financial support from any Iraqi bank or financial institution. This reflects the strength of its financial position, the independence of its investment decisions, and its ability to fulfill its obligations."
The company indicated that "the volume of investments it has injected into Iraq has so far exceeded $100 million, allocated to finance the project's work and the implementation of its various phases, which has contributed to creating job opportunities, revitalizing the construction, services, and building materials sectors, and supporting the national economy."