In November of 2012, negotiations began between Mr. Hussen Almusawi of Four Direction Company located in Baghdad, Iraq and Dr. Bassam Gorgis, of the US, in an arrangement to enter into a joint venture agreement, and form a new company to be registered and located in Iraq; the new joint venture company was named “Al-Faowry Building Technology”.
The new company has been awarded several government contracts to construct Thirty state of the art Towers; each eight – story apartment tower located in Maysan City, Iraq will have four apartments on each floor with different floor plans offered. The project is expected to launch ground breaking sometime in the early summer of 2013 and be completed around May of 2016.
Both companies have been working diligently together along side with the Iraqi government; more specifically with the Ministry of Construction and Housing to clear the way for this project to launch this spring. The first of several projects will consist of a total of thirty buildings; the first phase will consist of eight brand new, eight story apartment towers, that will offer a total of thirty-two family apartment dwellings with variety of floor plans to choose from; including, two and three bedroom options. The scope of the project will eventually lead to a total of thirty Towers with an additional sixty Villas being erected during the project, which is scheduled to be completed in three years.