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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.
The Damascus Governorate has issued two new construction permits in Marota City over the last couple of weeks, raising them to four in total.
The Homs governorate will implement Law No. 10 in three neighbourhoods in Homs city, Governor Talal Al-Barazi said.
The government approved on November 27 the construction of what it calls an eco-garden and tourism project on one of the largest empty plots of land in Damascus, an initiative that will lead to the expulsion of several dozen families.
The second construction permit for a building in Marota City has been awarded, according to the project’s official Facebook page.
The government has increased its income from properties rented to the private sector by almost 50 percent this year, confirming the sector’s potential to generate revenues.
The Syrian government is using future reconstruction activity as a carrot to attract private investment in the cement sector, but low demand and unclear prospects are acting as a deterrent.
The interest of Chinese companies in Syria, in particular for its real estate and building materials sectors, seems to be growing.
The Katerji brothers are negotiating to expand their investments in Aleppo, confirming that they have become the main business actors in Syria’s second largest city.
On October 5, the Ministry of Public Works and Housing announced that it had received the first shipment of construction equipment from Stroyexpert, a Russian architectural and construction firm.
Al-Badia Cement has received the final approval for listing in the Damascus Securities Exchange.
Damascus Cham Holding has posted profits last year, according to a local media.
Damascus Cham Holding is kickstarting Basilia City as it launches an initial phase of studies on its landmark real estate project.
The Syrian government has held in Damascus on August 3 a conference on the housing sector with the aim, among others, to develop its National Housing Strategy.
Milihouse, a state-owned contractor and real estate developer, has multiplied by around five the price at which it is selling affordable homes, mostly in loyalist areas.
The Syrian Cabinet approved this month the establishment a new real estate development area, according to a local media.
The housing units that were supposed to host the expropriated residents of the Basatin Al-Razi area, now Marota City, will probably never be built.
The Qaboun suburb of Damascus is to be redeveloped under Law 10 after the Damascus Governorate approved its masterplan.
The Damascus governorate intends to build around a dozen parking spaces below several public gardens in the city.