Anbar: The Federal Integrity Commission has announced its intervention to prevent the loss of over 34 billion dinars in public funds within the State Real Estate Department in Anbar.

According to National Iraqi News Agency, a team formed by the Anbar Investigation Office carried out investigations and gathered information regarding violations in the appraisal of a property by the State Real Estate Department. The property, covering an area of 136 dunams and 2 awlaq, was appraised at a value below its true worth, despite being situated in a prime location on the Euphrates River. The commission identified violations in the advertisement of the property’s sale.

The statement further detailed that the department appraised the property at approximately 3.13 billion dinars, equating to merely 23 million dinars per dunam. Upon visiting various entities, including real estate offices in Ramadi, the team found that similar properties were valued at around 300 million dinars per dunam, bringing the total estimated value of the property to approximately 37.42 billion dinars. This appraisal discrepancy amounted to a potential waste of 34.29 billion dinars.

The judge of the Integrity Investigation Court in Anbar ordered the suspension of the public auction procedures for the property. The investigation continues, with the original documents referred to the External Audit Division for further review and identification of violations. Legal representatives from the State Real Estate Department and the Real Estate Registration Directorate in Anbar have been called to provide statements.