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6d ago

Syria Secures $14 Billion Investment for Airport, Metro and Towers

These pacts follow Western sanctions relief after Assad’s overthrow to jump-start reconstruction.

A general view shows Damascus from Mount Qasioun in Damascus, Syria, January 7, 2025. REUTERS/Khalil Ashawi/File Photo
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A general view shows the main entrance of Damascus International Airport in Damascus, Syria, June 30, 2025. REUTERS/Stringer/File Photo

Overview

  • Talal al-Hilali, head of the Syrian Investment Authority, announced 12 strategic projects valued at $14 billion during a signing ceremony in Damascus.
  • The largest agreements include a $4 billion expansion of Damascus International Airport by Qatar’s UCC Holding and a $2 billion metro network financed by the UAE National Investment Corporation.
  • Additional deals cover a $2 billion Damascus Towers residential complex with Italy’s UBAKO, a $500 million Baramkeh Towers project and a $60 million Baramkeh Mall.
  • These investments build on recent July commitments, including Saudi pledges worth $6.4 billion and an $800 million DP World port deal, plus a $7 billion energy agreement signed in May.
  • Recent lifting of U.S. and EU sanctions has unlocked foreign capital for Syria’s new authorities as they seek to rebuild infrastructure devastated by 14 years of civil war.