Municipality News

Qom municipality inks 2 investment contracts worth €28 million

Qom Mayor inks 2 investment contracts worth €28 million

July 1, 2020. Qom Municipality signed two investment contracts with investors for the construction of a hotel and commercial complex worth nearly 28 million euros (each euro worth 220,000 RL).

In the signing ceremony of investment contracts, Mayor of Qom Seyyed Morteza Saghaianiannejad said the city of Qom possess many investment capacities and only these two contracts worth more than 28 million euros.

The mayor of Qom noted that five other investment agreements are on the agenda of the Investment Council of the Municipality, which will be determined by the end of 2020.

He went on to add that the investment platforms in the city of Qom should be facilitated more than before as we witness the implementation and exploitation of the investment projects as soon as possible in order to provide better services to the people.

One of today’s investment projects set to construct a residential and commercial complex on a land area of 7,900 meters on the NE31 block of Payambar-e-Azam Boulevard, with 10 floors and 41,000 square meters of built-up space.

In this contract, the Qom municipality holds 31% of the shares and 69% of the shares belong to investors.

In another agreement signed today, a 16-storey residential and commercial complex with 50,000 square meters of built-up space will be built, in which the municipality’s share is 69 percent and the investors hold 31 percent of shares.

The municipality’s contribution to the two projects is about 10 million euros, and the investors’ investment is about 18 million euros.