Iraqi Tycoon Builds White House Replica

The home will cost $17 million.

"It's outrageous, really fancy, and well-built," Tony Hozeph, general manager of Dream City, told ABC News.

Dream City is a ritzy community in the Kurdish capital of Erbil.

Hozeph would not identify the owner other than to say it was a prominent Kurdish businessman.

A buyer offered to purchase the replica for $17 million, but the current owner refused, according to Hozeph.

"It's not finished yet completely, there's no furniture and the interior construction still needs to be done," Hozeph said.

Dream City is one of Iraq's most expensive communities with mansions that would not look out of place in Beverly Hills. Vacant land in the area has a starting value of $250 per square foot. And a house sells for four times that, at $1,000 per square foot, Hozeph said.

A fortified fence surrounds the development. "High tech companies and government agencies provide security," Hozeph explained.