Real Estate & Construction
The expansion of the conflict in Syria to the governorate of Suweida in the south has pushed the government to expropriate all the lands located on the border between the Suweida governorate and the Jordanian border at a depth of 30 metres.
The Damascus Governorate has announced that it was moving ahead with plans to rebuild two large informal areas in the suburbs of Damascus, a symbolic decision that sheds light on a controversial decree.
Two-thirds of Syria’s population will leave in urban areas by 2030, according to a recent report by a UN body.
Al-Badia Cement reported a decline in revenues in the third quarter of this year compared to the corresponding period of 2011.
The General Organization for Building Materials and Cement has increased for the second time this year the price of cement.
State-owned cement plants produced 3.2 million tons in the first nine months of this year, according to the General Organization for Cement and Building Materials.
Souria Holding has suspended works on its Abraj Souria project in downtown Damascus, its CFO said.
Almost half of illegal housing areas across Syria are located in the Damascus countryside, according to a state body.
Majid Al-Futtaim remains committed to its large scale Syria development in spite of a recent announcement that it was suspending works on it, the CEO of the company’s real estate arm said in press remarks.
The General Organization for Cement and Building Materials said that its plants had produced and sold 1.1 million tons of cement in the first quarter of this year.
Syrian President Bashar Al-Assad enacted this week a law enabling the establishment of mortgage finance and refinance companies, which aims to ease the financing of real estate projects but that caps foreigners' share in these companies at 49 percent.
Majid Al-Futtaim Properties, a UAE developer, said that it was suspending works on its USD 1 billion development in Yaafour on the back of the unrest gripping Syria.
Syria has increased by 10 to 15 percent the price of cement sold by state-owned plants on the back of an increase in production costs.
The Real Estate Development and Investment Commission has licensed thirty five real estate development companies since its inception three years ago, according to its Director-General Yasser Al-Sibai.
The Green Economy
Damascus Chamber of Commerce
Damascus International Fairground