Damac Properties, the Dubai-based developer, is running into challenges with its Dh55 billion (US$14.97bn) Tarin Hills project in Iraqi Kurdistan, government officials in Iraq say.
Herish Muhamad, the chairman of the Kurdistan regional government’s board of investment, said the government was “facing some difficulties” with Damac over the project because “nothing has started on the ground”. He said the project could be cancelled.
“My team and I will discuss all possible scenarios before taking the last decisions,” he said. “However, our decision might not be pre-consulted with them.”
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