Real Estate & Construction
Al-Badia Cement, one of Syria’s leading cement manufacturers, has reported a decline in revenues and a steep rise in losses over unrealized foreign exchange costs.
Syria’s state-owned cement production body reported a significant decline in its output in the first half of the year.
The number of transactions in the Damascus real estate market surged in the first half of this year, according to official data.
The Minister of Housing and Urban Development has said that the government had devised a specific plan to rebuild the country’s informal housing areas.
The price of cement sold by state plants has been increased by the government by some 50 percent following a rise in its production costs.
The demand for cement in Syria will surge to three times its pre-conflict level, according to a Syrian economist.
A third of Syria’s housing units has been destroyed or damaged by the conflict, according to the United Nations.
The production of cement by Syria’s public sector decreased by around 25 percent in 2012 because of a suspension of activity at its plants located in Aleppo.
Rental prices are increasing in central parts of Damascus but decreasing in some other parts of the country as people relocate to escape violence.
Syrians invested some USD 172 million in the Dubai real estate market last year according to statistics from the Emirate.
Syria’s state-owned cement manufacturing plants witnessed an annual decline of 25 percent in their sales last year.
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.
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