Real Estate & Construction
The engineers union in Hama is granting free construction licenses to the families of the soldiers who died fighting with the Syrian army as a means of compensating them for their losses.
Syria’s state cement plants transferred billions of pounds to the treasury last year in the form of taxes.
Sales of Portland cement by state plants in the first quarter of this year continued to decline, according to official data.
The Ministry of Industry has signed an agreement with Pharaon Investment Group to develop the Adra Cement Plant near Damascus.
More than 100 thousand building violations on real estate properties were recorded in the last four years in Damascus and its countryside, according to a Government official.
Cement production by plants owned by the state remained relatively stable last year.
Some 15 percent of Syrian engineers have left the country, according to the union head.
A coalition of FSA and Kurdish forces have reportedly taken back control of the Lafarge cement plant located in northeastern Syria.
Syria’s demand for cement could rise to an average of 50 million tons per annum in the five years that follow the end of the conflict, according to a Syrian official.
The official price of cement sold by state entities has been increased by up to 40 percent following the recent hike in oil derivatives prices.
Some three months after it suspended production, Al-Badia Cement has announced that it has resumed operations.
Al-Badia Cement, one of Syria’s largest cement producers, reported rising losses last year, partly because of theft and other security related problems.
Around 17 thousand real estate transactions were recorded in Damascus last year, according to a Government official.
Al-Badia Cement, the Syrian subsidiary of Italcementi, said that its factory had stopped production because of security concerns.
The Real Estate Bank, a state-owned institution, is expected to provide all the funding for the infrastructure works in a controversial real estate project in Damascus.
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