Erbil's Qaysari to undergo major renovation after devastating fire

ERBIL (Kurdistan24) - Erbil Governor Omed Khoshnaw announced in a press conference that a significant portion of the Qaysari Marketplace, which burned down on May 5, will be renovated at a cost of 5.3 billion dinars.

The fire caused extensive material damage and impacted numerous traders.

Governor Khoshnaw detailed plans to support affected traders, including an agreement with Cihan Bank to provide interest-free loans to those needing financial assistance to restart their businesses.

“The day after the incident, Prime Minister Masrour Barzani visited the marketplace, listened to the concerns of the traders, and promised government support to help them resume their businesses as soon as possible,” Khoshnaw stated.

Several supportive measures have been enacted for government tenants in the market, including a one-year rent exemption, waivers of sign fees and garbage collection charges, and a 50 percent tax exemption for 2023 and a full exemption for 2024.

The governor emphasized the collaborative efforts with Cihan Bank, enabling traders to secure interest-free loans through the Erbil Governorate Office.

He noted, “The market will be renovated at a cost of five billion and 300 million dinars. The burned area consists of two parts, one of which is archaeological and the other is new. The renovation had been delayed due to the financial crisis.”

The fire, which broke out on the night of May 5, 2024, in the historical and cultural market of Erbil, resulted in the destruction of 227 shops and seven warehouses, and injuries to 132 people.

Read More: Investigation ongoing into Qaysari Bazaar fire; 132 people injured

Despite the continuous efforts of Civil Defense teams, the damages were substantial.

The renovation and support initiatives are aimed at restoring the market's historical significance and aiding traders in recovering from the disaster.