Bloom Properties, a leading realty firm from Abu Dhabi has announced its business plans for Iran by investing $18 billion in the country as reported by UAE daily ‘The National’ on Tuesday.

The firm, according to some confidential sources, is in negotiations with Iraqi authorities for getting some development contracts in the Shi'ite holy city of Karbala where two million pilgrims comes to visit the Imam Hussein and Hadrat Abbas shrines.