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عكس السير
Al-‘Abar announces $20 billion in projects in Damascus and Latakia
Emirati businessman Mohammed Alabbar has announced plans to launch two real estate and tourism projects in the cities of Damascus and Latakia, with investments exceeding $20 billion. This initiative is part of a gamble on the recovery of the Syrian economy and the return of investments. The projects include the development of tens of thousands of housing units, as well as tourism resorts, shopping centers, offices, schools, and hospitals. A new company will be responsible for owning and managing both projects, in partnership between the Syrian government and Gulf and Syrian investors. The government will provide the land and arrangements for financing are currently being prepared. Construction is expected to begin in the coming months, with ongoing communication with Syrian officials to ensure preparations are on track, and President Ahmed Al-Sharif is regularly monitoring the progress of the work.
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