Subjects – Syria Report



A massive transfer in the ownership of Syriatel, one of Syria’s largest companies, occurred last month. After the government reactivated the trading of the company's share in the Damascus Securities Exchange, record-high deals reflected a transfer of ownership in the company. Yet, little information is available on the company's new shareholding structure.
Last month, the Autonomous Administration in North and East Syria announced plans to develop and improve internet services, revealing offers by telecom operators that may start replacing Turkish and Syrian ones. Meanwhile, in Northwest Syria, the Syrian Salvation Government has monopolised internet services. 
Syria’s largest mobile operator, Syriatel, has announced the appointment of a new chairman in a series of changes to the board that mark the end of founder Rami Makhlouf’s ownership of the company, more than a year since he lost control of its management.


The Damascus Securities Exchange is the only market in Syria for the trade of securities and bonds. The DSE initiated the trading of securities in March 2009, though it was formally established in 2006. The exchange listed six companies at its launch, but today gathers a total of twenty-seven.



ABRAJ-tec is a manufacturer of steel structures based in the Damascus Countryside.


Zubaidi and Qalei is a real estate developer established by two Damascus-based investors.