Karrada as a land is part of a peninsula created by the Tigris river significant turn, which gives this part of the city a remarkable character. The area has the river running on both sides. Although the peninsula created by the river is not all Karrada, the latter represents the major portion of it. The other significant part of the peninsula, though not as big as Karrada, is Al-Jadriya. It is a small district which lies at the south tip of the peninsula where Tigris river makes its major turn and heads to the north-east. Its significance comes from the quality of life style of the neighborhood. The real estate is the most expensive in all of Baghdad. The design and the building of the University of Baghdad Campus in 1958 in this area added to its value since this project had become one of the important cultural centers of the city. The University of Baghdad campus was designed by Walter Gropius, AIA, Louis Mcmillen and Robert McMillan of The Architects Collaborative.
The airline Al-Naser Airlines has its head office in Karrada, in an area next to Al Jadirya Private Hospital.