Under the Patronage and Esteemed Attendance of His Excellency

 Eng. Mohammed Shia’ Al Sudani

Prime Minister of the Republic of Iraq


Estithmar Holding Q.P.S.C.  Lays the Foundation Stone of major-touristic complex in Baghdad

Baghdad, Iraq:  Estithmar Holding Q.P.S.C.  held today the groundbreaking ceremony of a mega-touristic in Iraq, under the esteemed patronage and attendance of Excellency Eng. Mohammed Shia’ Al Sudani Prime Minister of the Republic of Iraq, Dr. Haider Muhammad Makiya, Chairman of the National Investment Commission in Iraq and the Iraqi Minister of Culture and Tourism, the Qatari Chargé d’Affaires in Baghdad. The event was also attended by Estithmar Holding Vice Chairman Mr. Ramez Al-Khayyat and board members, along with other distinguished individuals from the tourism, hospitality and investment sectors in Iraq, and Estithmar Holding working team.

Speaking at the event, Mr. Ramez Al-Khayyat, Vice Chairman of Estithmar Holding, said: “We are proud to be here today on site to lay the foundation stone of this mega-touristic complex in Baghdad. This project is set to revolutionize the country's tourism and hospitality sectors with its unique design that blends the legacy of the past with the luxury of the future. This first of its kind project will offer its visitors many unique and diverse experiences, as it will include five-star hotel rooms, luxury apartments and villas for sale, which will be managed under the brand Rixos. It will also encompass a state-of-the-art facilities, a range of international restaurants, grand ceremonial and conference halls that are designed to be of the highest international standard.

He added: “Our celebration today to announce the commencement of works on this project, is also the beginning of the launch of our promising investments in our beloved Iraq, which include many vital sectors, service, tourism and commercial, health care and infrastructure development.

“In my name and on behalf of all members of the Board of Directors of the Estithmar Holding, we are delighted to be one of the first contributors to Iraq's remarkable transformation journey in all levels.

“We have also noticed that these efforts were blessed and supported through the high-level coordination and continuous follow-up by His Excellency the Prime Minister, Eng. Mohammed Shia’ Al Sudani and his esteemed team, as well as by the National Investment Commission with all its employees, headed by His Excellency Dr. Haider Muhammad Makiya, Chairman of the National Investment Commission.

He also concluded his speech by saying: “I extend my deepest thanks, appreciation and gratitude to His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, may God protect him, for His sound guidance, and also to His Excellency the Prime Minister of Iraq, Eng. Mohammed Shia’ Al Sudani and for his continued support in encouraging and attracting investments.”

For his part, His Excellency the Prime Minister of Iraq, Eng. Mohammed Shiaa’ Al Sudani, welcomed the Qatari presence in Iraq, and emphasized that this touristic complex will be a distinctive architectural landmark that adds to Baghdad’s architectural identity. He added: “We will provide all necessary support to interested investors, companies, and the private sector to implement these projects in Baghdad and dependent provinces and in the Kurdistan Region of Iraq.”

Estithmar Holding Q.P.S.C. recently signed a memorandum of understanding with the Iraqi National Investment Commission with a total value of 7 billion US dollars to develop new modern comprehensive cities, five stars hotels and also manage and operate several hospitals.

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