Kurdistan Regional Government of Iraq is set to complete all works related to the Family Mall and Family Fun projects, which are currently under construction in the governorate of Duhok, by 2015, an official source told Zawya.
“This project is considered one of the more vital projects currently being constructed by the region in the tourism sector. The total estimated cost of the project stands at USD 100 million. The project was licensed in mid July 2012, and is to being constructed on a total area of 61,000 square meters in the governorate of Duhok, to span a period of three years from the date of licensing,” said Dr. Kamran Al-Mufti, director general of the contract evaluation and authorization department of the Kurdistan Board of Investment.
Al Mufti stated that local company Darin has been assigned with implementation of the projects; being a corporation specialized in the construction of touristic buildings and premises.
“Such projects greatly contribute towards capital appreciation through investment, the development of infrastructure and the revival of the tourism sector. However, it is also believed that such projects may drive a portion of capital to exit the region and Iraq, in the form of expenditure paid to contractors – especially the ones involved in the field of technology. In addition, to capital spent in importing the majority of construction materials from abroad that are required for the projects,” said Dr. Mohammed Salman Mohammed, economics professor at the College of Administration and Economy, Salahaddin University – Iraq.
Mohamed added that such touristic projects do indeed contribute to creating employment opportunities for youth, which helps mitigate this problem to a certain extent.