Real estate and construction
Earlier this month, Turkey announced new details about a long-term scheme to build between 200,000 and 250,000 homes with the aim of resettling one million Syrian refugees from Turkey to Turkish-controlled areas along Syria’s northern border.
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 Real Estate Development and Investment Commission has authorised a local private company to build the first real estate development area in Damascus and the second in Syria.
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.
For the first time in months, construction work is set to start on a new real estate project in Marota City.
On Tuesday, France's Court of Cassation overturned an earlier decision by a lower court to dismiss the charges of complicity in crimes against humanity brought against the multinational cement manufacturer, Lafarge.
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.
Sales of cement in Syria increased by around 17 percent last year, indicating an increase in construction activity despite the Covid-19 pandemic and a significant drop in the population’s purchasing power.
The Syrian government has inaugurated the first project in one of the country's designated real estate development areas after years of struggling to attract serious investment
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 government has increased the price of portland cement to close the gap with its black market rate, while construction costs as a whole are continuing to rise.
Al-Badia Cement has reported a relatively strong increase in its 2019 sales, although its performance this year has already suffered markedly from the worsening business environment.
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.
Damascus Cham Holding has given more details on one of the large developments it is seeking to promote in Marota City.
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.
The government’s plan to rebuild the Qaboun industrial area is facing stiff resistance from business owners, who have voiced rare public criticism of the project.
Al-Badia Cement, Syria’s sole private cement producer, posted an increase of 27 percent in its 2019 sales.