Real Estate & Construction
The surge in demand for cement, reported by the state entity in charge of the sector, confirms the boom in illegal construction activity witnessed across Syria since the beginning of the unrest in mid-March.
The current unrest across Syria is benefiting one key sector of the economy, real estate, as the population is trying to capitalize on the Government’s reluctance to repress or ban construction works in illegal housing areas.
Akar Development has signed two deals with local banks for the supply of mortgage finance for future home owners in its Cordoba Hills development near Aleppo.
Syrian President Bashar Al-Assad has issued a new decree easing the process for foreigners to acquire real estate property.
The Syrian President issued on March 24 a decree easing the rules for acquiring lands and real estate properties in border areas, a major demand of protesters who have taken to the street in Daraa in the last 10 days.
Syria’s state-owned cement plants produced 5.65 million tons and generated SYP 4.1 billion in net profits last year, according to the Ministry of Industry.
A recent survey by the Central Bureau of Statistics shows that the vast majority of people leaving in illegal housing areas in Syria benefit from the same services as those living in regulated zones.
Arabian Cement and Building Materials Company, a state-owned cement manufacturer, is seeking an international consultancy to help improve the company’s operations.
The Syrian Government has designated a new Real Estate Development Area outside Damascus, one of several similar locations designated by the Government across the country in the last few months.
The Kuwaiti Syrian Holding Company (KSH) has begun excavation works on a new high end residential project in Yaafour, according to its Chairman, Mahmoud Al-Nouri.
Avrasya, a Turkish company specialized in the management of passenger bus terminals, has bought a 50 percent stake in Aleppo Gate, a Souria Holding subsidiary.
Renaissance Construction, a Russian-Turkish company, has bought a stake of 30 percent in the USD 180 million Taj Halab real estate development in Aleppo.
Sarhad Haffar, the General Manager of Emaar IGO, the company developing the Eighth Gate project in Yaafour, outside Damascus, has resigned.
Guris, a Turkish conglomerate, has held a ceremony to mark the beginning of the works on the last phase of its EUR 285 million cement plant under construction in northeast Syria.
The Peasants Union and the Damascus Trade Union have simultaneously called international and local companies to submit offers for the management of two tourism and commercial centres.
Tenders and Contracts
Damascus Chamber of Commerce
Syrian International Microfinance & Banking Exhibition 2015
Dama Rose Damascus Hotel