Real estate & Construction

Cement sales, a proxy for construction activity, declined by around 10 percent last year, according to data from various sources.
Israel's cabinet unanimously approved a multi-million dollar development plan to double the settler population in the Golan Heights and turn the disputed territory into the “technological capital of renewable energy” in Israel, according to Israeli Prime Minister Naftali Bennett.
The Israeli government has moved forward with a new settlement policy that plans to double, and eventually quadruple, the Israeli settler population in the Golan Heights. In opposition to the plan, hundreds of Syrians, most of whom are from the Druze community, in the village of Masada protested against Israel’s policy to increase settlements, while a number of Israeli media outlets have questioned the government’s policy.
The Ministry of Public Works and Housing announced on July 18 that it had signed contracts worth SYP 142 billion--around USD 56.5 million at the official exchange rate -- to build residential towers in the Basilia City real estate development south of Damascus.

Syria has once again hiked prices for Portland cement, although stable production at state-owned factories and a continuous flow of the building material from Lebanon and Turkey has kept supply levels high.


The prices of building materials in the local market have been extremely volatile over the past two months because of the ups and downs of the currency rate and higher tariffs. The fluctuations are almost certain to curb construction activity.


Government forces, including some affiliated with Iran, have taken positions in civilian houses in the Yarmouk Basin area, preventing some residents from returning to their villages years after Islamic State-aligned fighters were defeated. The area is in the western countryside of the Daraa governorate and is of strategic importance because it is located along the Israeli border.


Delays in the Marota City project are generating increasing criticism, including from a prominent Iran-linked investor who believes the project may eventually die.


The Damascus governorate has awarded three new building permits in the Marota City development, although all are for individual buildings.