The Group extended its activities to real estate development and is involved in related activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of improved parcels to others. The success of the Group is based on its ability to coordinate the completion of a series of interrelated activities efficiently and at the appropriate time.
The Group utilized the skills of its own professionals, including architects, landscape architects, civil engineers and site planners to address project design; market consultants to determine demand and a project’s economics; attorneys to handle agreements and government approvals; environmental consultants and soils engineers to analyze a site’s physical limitations and environmental impacts; surveyors and companies to provide legal descriptions of a property. The Group’s specialized real estate development arm is Ard Al Osood Company, which has investments in housing complex, hotels, and shopping malls.
And Al Osood Company is in process of building two shopping malls in the north and south of Iraq, during the current year.