Shaswar Abdulwahid's properties auctioned in Sulaimani at $69.5M

SULAIMANI,— Authorities in Iraq’s Kurdistan Region auctioned nearly 60 properties from the Chavy Land entertainment complex in Sulaimani city on Sunday, raising more than 91 billion dinars (about $69.5 million), officials said.

The sale is part of efforts to recover debts linked to opposition leader and businessman Shaswar Abdulwahid Qadir, who is serving a prison sentence.

The assets, owned by Chavy Company, were offered as a single package under a Ministry of Finance order.

The auction was managed by the Sulaimani Execution Directorate, part of the Kurdistan Regional Government’s Justice Ministry. Local sources said the properties were bought in full by a young wealthy investor from Sulaimani identified only as Akam.

Abdulwahid, founder of the New Generation Movement (Cûłanewey Newey Nwê), leads a party that holds 15 seats in the Kurdistan parliament and nine seats in Iraq’s parliament.

He has been under detention since August, following his arrest at home in Sulaimani over a complaint filed by former lawmaker Shadi Nawzad.

The Sulaimani Criminal Court later sentenced him to five months under Article 431 of the Iraqi Penal Code, which covers threats.

Chavy Land resort in Sulaimani city, Iraqi Kurdistan, 2010s. Photo: FB

Court officials said Chavy Company’s debts have been longstanding and include unpaid public service charges for electricity, water and taxes in addition to loans guaranteed by the government. Judges previously confirmed that total liabilities exceeded 90 billion dinars.

The businessman faces 79 separate legal complaints from individuals, government institutions, activists and political figures.

Chavy Land, promoted as one of Kurdistan’s largest tourism investments, opened with attractions including a cable car, roller coasters, a wax museum, cinema, fountains, hotels, restaurants and recreation areas.

However, shareholders in the project have criticized Abdulwahid for failing to deliver returns. They say that since investing $22 million beginning in 2011, they have received only token payments in 2013 and 2016 amounting to less than $70 combined in recent years. Investors allege they were not paid at all for 2014, 2015, 2017 and 2018.

Abdulwahid also controls Nalia Group, another major media business entity in the region. Following his sentencing, he delegated control of the New Generation Movement to a seven-member committee to manage political and electoral matters while he remains in custody.

Abdulwahid appeared again before the Sulaimani court on Sunday. Judicial officials adjourned his case until November 3, 2025.

(With files from Agencies)