Real Estate & Construction
Al-Badia Cement generated revenues of SYP 4.0 billion and posted a loss of SYP 669 million in 2011, its first year of operations.
Adra Cement, a state-owned cement manufacturing company, said that it had begun output from its third production line.
The Syrian Government has announced the formal launch of a scheme to build 50,000 low cost housing units across the country in a bid to supply affordable housing for the population.
The head of Syria’s cement manufacturing body said total output by Government-owned plants fell 10 percent last year, attributing the decline to competition from the private sector.
A law issued on the last day of 2011 has enabled Syrian landlords to recover their properties leased to state administrations although a last minute change to the text has postponed its application some 3 years.
The Syrian Government has approved the establishment of a new authority and fund to oversee the development and reorganization of random housing areas surrounding the country’s main cities.
Syria’s state-owned cement plants produced a total of 3.87 million tons in the first nine months of this year, according to the entity in charge of the sector.
The recent price increase in fuel oil is creating significant difficulties for the country’s state-owned cement plants for which the item represents a major cost component.
The Damascus Governorate has re-issued for the third time a tender for the design and regulatory study for the development of informal areas in and outside Damascus.
MAF properties has said that it has begun infrastructure and foundation works on its USD 1 billion real estate development in the area of Yaafour, west of Damascus.
Al-Badia Cement, one of two private sector manufacturers of cement in Syria, announced a capital reduction while works on a second production line have been postponed.
Emaar IGO issued a press release saying it had already delivered 315 office units in the first phase of its Eighth Gate compound outside Damascus and that it was continuing works on the project.
The Hassia Industrial City of tender has issued a tender for the conduct of the urban and infrastructure design of a residential compound that will host people working in it.
Sendos Investment and Development has begun works on the latest upscale residential project in West Yaafour, The Address.
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.
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