Baghdad: Thursday’s newspapers concentrated on Prime Minister Ali al-Zaidi’s commitment to bolstering Iraq’s economic ties with Washington and the Parliament’s preparation to approve the “First Home” law aimed at addressing the country’s housing crisis.
According to National Iraqi News Agency, Prime Minister Ali Faleh al-Zaidi emphasized Iraq’s promising investment environment during a meeting with a delegation from the Atlantic Council, led by Victoria Taylor. Al-Zaidi highlighted government measures to provide investment incentives for American companies, showcasing Iraq’s openness to initiatives strengthening bilateral relations with the United States. The discussion underscored the potential for Iraqi-American partnerships in sectors like development, energy, and the economy.
In parallel, Iraq faces a housing shortage estimated at over two million units, with some figures suggesting a need for up to 3.5 million units. The proposed “First Home” law seeks to mitigate this issue by offering facilities such as tax exemptions, priority in obtaining financing, and access to land and housing for those without a home. Parliamentary finance committee head Uday Awad noted the legal committee’s confirmation that the proposed law aligns with legislative powers but requires government approval for its financial components.
The legislative proposal aims to expand homeownership opportunities and is part of a broader initiative including the distribution of one million residential plots. The Prime Minister’s office has already prepared 216,000 plots in six governorates and continues to develop infrastructure for additional sites.
Awad explained that the law targets Iraqis aged eighteen and above who do not own property, ensuring benefits reach families without previous housing allocations. The proposal offers exemptions from real estate registration fees and taxes for the first home, alongside favorable financing terms. It also prioritizes families of martyrs, people with disabilities, and women-headed households in the allocation process.
Additionally, the proposal includes measures to prevent real estate speculation and mandates the creation of a national electronic registry to prevent fraudulent applications. The Ministry of Finance will manage a “First Housing Support Account” to fund loans and infrastructure for allocated lands.
In other developments, the Ministry of Construction, Housing, and Municipalities announced application guidelines for residential land plots. Eligibility includes being Iraqi, or having an Iraqi parent, and not receiving a fixed state salary. The ministry set specific conditions and payment deadlines for applicants, with applications opening in Baghdad in 2026.
These initiatives are part of efforts to address Iraq’s housing crisis amidst a growing population, urban migration, and slow housing project implementation. Meanwhile, Prime Minister al-Zaidi continues to engage with religious leaders, emphasizing Iraq’s diversity and the government’s commitment to protecting the rights of all communities.