Iraq to rent out Saddam's French villa
Due to the global financial crisis and the fall of housing values, Iraq is going to rent out Saddam's French villa.
BAGHDAD – Iraq announced on Thursday it will rent out the executed dictator Saddam Hussein's mansion in the French Riviera because of the global economic crisis and the fall in housing values.
"The Council of Ministers on Tuesday decided to cancel the decision from a previous council of ministers, which was to sell the house in Cannes, and to give the authority to the Ministry of Foreign Affairs to rent the house and to use the rent for maintenance," government spokesman Ali al-Dabbagh said.
In a statement Dabbagh specified that the decision was a consequence of the economic situation and collapse in real estate prices.
Saddam, who ruled Iraq from 1979 until his brutal regime was toppled in the 2003 US-led invasion, was hanged in December 2006.
His family, which had all of their assets frozen by the United Nations, owned two properties on the Riviera, one on the hills above Cannes which was bought for EUR ten million (13 million dollars) in 1982.
Saddam also owned an 82-metre (270-feet) yacht outfitted with swimming pools, a mosque and a missile launcher, which was brought back to the southern Iraqi port of Basra in January after the government failed to sell it.
AFP / Expatica