The Deshti Bahasht project will resume soon. The Kurdistan Region’s Investment Board has transferred the incomplete development to a new investor. Officials have already completed all administrative procedures.
Dr. Mohammed Shukri, Chairman of the Investment Board, confirmed the timeline. He said the Deshti Bahasht project will reach completion within three years. He also announced that the name of the new company will appear soon.
The new investor must deliver all properties within the agreed period. If it fails, it must compensate the rightful buyers.
The Deshti Bahasht project lies on Koya Road, across from the Kesnazan district in Erbil. It includes 427 villas and 1,122 apartments.
Adel Mutahida Group of Companies began construction in 2010. The group belonged to Dr. Roshdi Saadi. The original schedule planned for delivery within three years. However, the company failed to meet deadlines, and the site remained unfinished.
Authorities arrested Dr. Roshdi Saadi in Kirkuk in 2023 after he fled the project. Thousands of buyers have waited more than a decade for their homes.
The Investment Board stepped in to resolve the issue. Officials reviewed the case and reassigned the project to a new investor. This action aims to restore public trust in the housing sector.
The government believes the Deshti Bahasht project will boost the local real estate market. Timely completion of such projects increases investor confidence and strengthens regional stability.
The Board committed to overseeing the new phase of construction. It also promised to protect the rights of property owners. Officials encouraged buyers to stay hopeful as work resumes.
Deshti Bahasht project represents a key test for housing reform in the Kurdistan Region. Its completion will mark a major step toward rebuilding confidence in the investment environment.
