Feb 10 β€’ 09:07 UTC πŸ‡ΆπŸ‡¦ Qatar Al Jazeera

Financial Times: Dijla Village a Symbol of an Unexpected Economic Boom in Iraq

A report highlights the transformation of Dijla Village in Baghdad into a lavish symbol of Iraq's recent economic upswing, drawing elites and offering upscale amenities.

A report by Raya Jalabi in the Financial Times discusses the emergence of Dijla Village as a luxurious symbol of an unexpected economic boom in Baghdad. Launched in 2022 and valued at around $180 million, this riverside development has become a hotspot for Iraq's elite, who frequent the upscale restaurants overlooking a large dancing fountain accompanied by light and musical shows. It illustrates a shift in the city's atmosphere, attracting those who previously felt the need to travel abroad for leisure and entertainment.

The economic revival in Baghdad is attributed to a period of relative calm, allowing the Iraqi government to focus on infrastructure projects and foreign investments. The report points out similar initiatives that underscore this transformation, including the upcoming opening of a new central bank building and plans to convert a site associated with the 2019 protests into a luxury private hospital managed by Italian companies. This multifaceted growth indicates a budding optimism in the socioeconomic landscape of Iraq, highlighting a changing narrative away from past conflicts toward modernization and development.

However, the article also hints at lingering social and economic disparities within Iraq. The affluent lifestyle epitomized by the developments in Dijla Village contrasts sharply with the challenges faced by many Iraqis, raising concerns about accessibility and inclusiveness in this burgeoning economic narrative. As the country navigates its recovery, there remains a critical need to address these inequities to ensure a more equitable distribution of the newfound prosperity across all segments of society.

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