On Thursday, December 7th, 2023, CBITEC signed a real estate development cooperation framework agreement with local Iraqi enterprise AWTC and CRSG in Baghdad, Iraq. A grand signing ceremony was held on-site. As the project investors, CBITEC and AWTC, will exert their respective advantages fully and work together in applying for obtaining land & investment permits, real-estate development and marketing for mutual benefit and win-win cooperation. As a leading enterprise in the field of engineering contracting and building construction, CRSG will participates and cooperate as an exclusive contractor to ensure project construction quality and high standard delivery.
In his speech, Mr. Muhanad Khudhair Hassan, the representative of AWTC, welcomed CBITEC's entry into the Iraqi market and expressed that the deep cooperation between both parties in the field of real-estate is not only beneficial to the development of the respective enterprises, but also injects new vitality into the Iraqi market and further alleviates the current housing shortage.
Tao Jin, the manager of CBITEC Iraq Branch, thanked AWTC for their trust in his speech. CBITEC is very optimistic about the development of the Iraqi real-estate market. This signing ceremony is a milestone for the cooperation. We believe that with the joint efforts of both parties, we can achieve the success of following project, bring more & better houses to the Iraqi people, improve their livelihoods, enhance the employment, achieve both economic & social benefits and make contributions to Iraqi society.
General Manager Wu Dunbin of the International Business Department, CRSG, praised the trilateral cooperation model highly in his speech, expressed that this is an attempt of brand new model. It is the first time for Chinese private enterprise to cooperate with the local enterprise to invest in the real-estate field while being contracted by Chinese state-owned enterprise in the Iraqi market. He said that CRSG is very optimistic about the project prospects, promises to adhere to high standards & requirements in project construction and ensuring project quality & construction progress.
The signing ceremony and talks were held in a relaxed and pleasant atmosphere.
Iraqi parliamentarians, representatives of relevant political parties, Deputy General Manager Shi Zhenyun of the International Business Department, CRSG, Deputy General Manager Mao Haipeng of CRBC, staff of CRSG Iraq Branch and people from all walks of life witnessed the signing ceremony and participated in the above-mentioned activities.
Contributed by: Kim
Translated by: Lee
