Integrity Commission Blocks IQD 34 Billion Loss in Anbar State Property Valuation

Iraq’s Federal Integrity Commission announced on Thursday that it had prevented a potential financial loss estimated at IQD 34 billion after uncovering what it described as a significantly undervalued state-owned property in Anbar Province.

The commission said its investigative team detected irregularities in the valuation of a property covering 136 dunams and two ulaks, located in a prime area along the Euphrates River. The State Real Estate Department in Anbar had reportedly valued the property at around IQD 3.129 billion, equivalent to approximately IQD 23 million per dunam.

According to the investigation, comparable properties in the same area are valued at nearly IQD 300 million per dunam, placing the estimated value of the property at around IQD 37 billion and creating a difference of approximately IQD 34 billion.

Following the findings, the Investigative Judge of the Anbar Integrity Court ordered the suspension of the public auction procedures for the property and referred the case documents to the External Audit Division for further review.