Real Estate & Construction
The residential section of the Industrial City of Hessia has been designated by the Syrian Prime Minister as the first real estate development area to be governed by Law 15/2008.
Emaar Syria will start issuing tenders for works on a shopping mall in its Eighth Gate development outside Damascus before the end of the year, Sarhad Haffar, the General Manager, has said.
Nine local and regional companies have been pre-qualified as main contractors for the first phase of the Cordoba Hills Development.
A recent Presidential decree is expected to help increase the supply of real estate properties in Syria’s main cities by forcing land owners to build.
Majid Al-Futtaim plans to tender USD 1 billion worth of investments by next February for its Khams Shamat project outside Damascus, the head of its property division said.
Bena Properties has announced that excavation works at Taj Halab had begun.
United Contracting & Engineering Company has issued a tender for the finishing works at the Garden City Resort, a mixed-use development the company is building outside Damascus.
Emaar-Syria has begun the sale of units in the Fashion House, an industry-dedicated building under construction in the Eighth Gate project in Yaafour, outside Damascus.
Aref Investment Group, a Kuwaiti holding, is planning to divest from Syria because of its financial difficulties, according to a local media.
The Ministry of Religious Endowments has issued a tender for the development of one of the largest pieces of real estate properties in Central Damascus.
Akar Development has appointed Engineering Consultants Group (ECG), an Egyptian firm, to supervise works at the Cordoba Hills development.
Ramboll, a Danish engineering and design firm, will design the two hotels and the convention centre of the Taj Halab project.
Ground works at Majid Al-Futtaim’s project in Yaafour, west of Damascus, have begun according to a statement from the company.
The Government has issued a decision regulating the management of real estate brokerage companies.
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