Bismayah was planned by the Baghdad Investment Commission to build 100,000 homes and later joined by external investors in efforts to help rebuild Iraq.

[2] The new city will be constructed according to the latest international standards with full services including schools, clinics, and commercial, social and entertainment centers.

According to its developers, Bismayah is intended to fill the lives of 600,000 citizens of Baghdad with happiness and be the most outstanding world class city beyond Iraq and Middle East as the first project of the National Housing Program.

Completion of the project was originally scheduled for 2020 but has been deferred to 2027 due to the unstable political situation in the Middle East and delayed payments from the Iraqi government.

Chairman of the commission, Haider Mohammed Makiya, discussed collaborative measures with Saudi Minister of Investment, Khalid Al-Falih, to secure funding for the Bismaya project.