The plan will bring more than 150,000 apartments, retail areas, a university and job centers to the struggling slum area.
"The first phase of construction -- apartments ranging from 100 to 180 sq meters (1,075 to 1,940 sq feet) -- will be funded by the Iraqi government and is expected to take three to four years. The apartments are relatively large."
75,000 apartments are included in the first phase of the project.
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