Daico Global says Iraq housing project complies with local laws

BAGHDAD, Iraq — Daico Global, a company operating in Iraq's investment and real estate development sector, issued a written statement responding to remarks made about the firm and its Iraqi project during a session of the Iraqi parliament. The company said all project-related transactions are carried out in line with Iraqi law and with the approval of the relevant authorities, and that assessments should be based on definitive legal documents and on-the-ground progress rates. Daico Global said the project includes a 7,000-unit social housing component to be delivered to the state free of charge, with 2,000 units planned in Baghdad and 1,000 units in each of several southern cities. The company said the first phase in Baghdad covers 103,465 square meters and the second phase 153,160 square meters, with a cumulative completion rate of 23.24% recorded as of July 4, 2026. The statement added that Daico Global has so far deployed more than $100 million of its own equity in the project and has not taken any loans or financial support from Iraqi banks. It also said 51 housing units will be allocated to the technical and administrative staff of the Iraqi national football team under Cabinet Decision No. 188.