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US-backed plan sees shiny future for embattled Green Zone
May 4, 10:10 PM (ET)
By BRADLEY BROOKS and QASSIM ABDUL-ZAHRA
BAGHDAD (AP) - Forget the rocket attacks, concrete blast walls and lack of a sewer system. Now try to imagine luxury hotels, a shopping center and even condos in the heart of Baghdad.
That's all part of a five-year development "dream list" - or what some dub an improbable fantasy - to transform the U.S.-protected Green Zone from a walled fortress into a centerpiece for Baghdad's future.
But the $5 billion plan has the backing of the Pentagon and apparently the interest of some deep pockets in the world of international hotels and development, the lead military liaison for the project told The Associated Press.
For Washington, the driving motivation is to create a "zone of influence" around the new $700 million U.S. Embassy to serve as a kind of high-end buffer for the compound, whose total price tag will reach about $1 billion after all the workers and offices are relocated over the next year.
(AP) A sign advertising the availability of a private villa inside the heavily fortified Green Zone is...
Full Image
"When you have $1 billion hanging out there and 1,000 employees lying around, you kind of want to know who your neighbors are. You want to influence what happens in your neighborhood over time," said Navy Capt. Thomas Karnowski, who led the team that created the development plan.
Karnowski said a deal already has been completed for Marriott International Inc. (MAR) to build a hotel in the Green Zone. He also said a possible $1 billion investment could come from MBI International, a conglomerate that focuses on hotels and resorts and is led by Saudi Sheikh Mohamed Bin Issa Al Jaber.
Elizabeth Caminiti, a Marriott spokeswoman, declined to comment. Phone calls and e-mails sent to London-based MBI were not returned.
http://apnews.myway.com/article/20080505/D90F6QLG2.html
May 4, 10:10 PM (ET)
By BRADLEY BROOKS and QASSIM ABDUL-ZAHRA
BAGHDAD (AP) - Forget the rocket attacks, concrete blast walls and lack of a sewer system. Now try to imagine luxury hotels, a shopping center and even condos in the heart of Baghdad.
That's all part of a five-year development "dream list" - or what some dub an improbable fantasy - to transform the U.S.-protected Green Zone from a walled fortress into a centerpiece for Baghdad's future.
But the $5 billion plan has the backing of the Pentagon and apparently the interest of some deep pockets in the world of international hotels and development, the lead military liaison for the project told The Associated Press.
For Washington, the driving motivation is to create a "zone of influence" around the new $700 million U.S. Embassy to serve as a kind of high-end buffer for the compound, whose total price tag will reach about $1 billion after all the workers and offices are relocated over the next year.
(AP) A sign advertising the availability of a private villa inside the heavily fortified Green Zone is...
Full Image
"When you have $1 billion hanging out there and 1,000 employees lying around, you kind of want to know who your neighbors are. You want to influence what happens in your neighborhood over time," said Navy Capt. Thomas Karnowski, who led the team that created the development plan.
Karnowski said a deal already has been completed for Marriott International Inc. (MAR) to build a hotel in the Green Zone. He also said a possible $1 billion investment could come from MBI International, a conglomerate that focuses on hotels and resorts and is led by Saudi Sheikh Mohamed Bin Issa Al Jaber.
Elizabeth Caminiti, a Marriott spokeswoman, declined to comment. Phone calls and e-mails sent to London-based MBI were not returned.
http://apnews.myway.com/article/20080505/D90F6QLG2.html
