Green Zone dreams of wealth to come

Forget the rocket attacks, concrete blast walls and lack of a sewer system—try to imagine luxury hotels, a shopping center and even condos in the heart of Baghdad. . . .

The $5 billion plan has the backing of the Pentagon and apparently the interest of some deep pockets in the world of international hotels and development, the lead military liaison for the project told The Associated Press.

For Washington, the driving motivation is to create a "zone of influence" around the new $700 million U.S. Embassy. The zone would serve as a kind of high-end buffer for the compound, whose price tag will reach about $1 billion after all the workers and offices are moved over the next year. . . .

Karnowski said a deal has been completed for Marriott International Inc. to build a hotel in the Green Zone. He also said a possible $1 billion investment could come from MBI International, a conglomerate that focuses on hotels and resorts and is led by Saudi Sheikh Mohamed Bin Issa Al Jaber.