The governments of Iraq and Saudi Arabia have signed an agreement for the development of US$1 billion Jadat Baghdad (Baghdad Avenue) in Iraq.

The development aims to showcase the growing collaboration between Iraq and Saudi Arabia and serve as a catalyst for regional transformation. It encompasses the construction of approximately 6,500 residential units, including 2,500 villas and 4,000 apartments. Located near Baghdad's international airport, the Baghdad Avenue project will also feature commercial offices, restaurants, cafes, and one of Iraq's largest shopping malls.