Corporate Syria: Real Estate 2009

Corporate Syria: Real Estate 2009  The real estate sector is taking a growing role in Syria's economy and its growth outpaces significantly the rest of the economy, according to the latest Syria Report business guide, Corporate Syria: Real Estate 2009. This guide, which provides an update of the latest developments taking place in the real estate industry, is published under the Corporate Syria label, the new name for the series of hardcopy guides produced by The Syria Report. Corporate Syria: Real Estate 2009 includes feature stories, tables and charts, briefs on key pieces of legislation, a profile of the largest real estate developments taking place in Syria, interviews with key decision makers and a directory of the main companies active in the market. (See list of contents below) The tables and charts include information on rental and sale price for commercial, office and residential properties in Damascus, the total construction area licensed by local authorities both for commercial and residential properties, or the number of informal housing units throughout the country. Projects profiles provide facts on the size of the investment involved in each project, the type of the developments (commercial, residential, mixed use, etc.), their estimated launch date as well as background information on the developers. Corporate Syria: Real Estate 2009 is available free of charge to subscribers of The Syria Report. To subscribe, go to: Subscribe to The Syria Report. To purchase an electronic copy, go to: Order a copy.
Contents Feature stories Real Estate Takes a Growing Role in Syria’s Economy The real estate sector has grown at a much faster pace than the Syrian economy as a whole in the last few years. Better planning and an improved regulatory framework will be necessary for this expansion to continue unabated. Despite Challenges, Opportunities Abound Private investment has soared on the back of strong demand and poor supply. Certain segments, such as office space, have failed, however, to attract significant interest. Informal Housing, A Key Aspect of Syria’s Urban Landscape The development of informal housing around Syria’s cities has become a nationwide issue as it now involves more than a third of the country’s population. Interviews Riad Kahaleh, CEO of Urban Development Group On the challenges faced by real estate developers in the Syrian market Yasser Sibai, General Manager of the Real Estate Development and Investment Commission On the new opportunities provided by Investment Law 15/2008 Tables and Graphs 1. GDP and Real Estate Volumes (2003-2007) 2. Comparative GDP and Real estate Growth (2003-2007) 3. Average rental rates in Damascus in 2008 4. Office occupation costs in 2008 5. Selling prices for commercial properties in Damascus in 2008 6. Selling prices for residential properties in Damascus in 2008 7. Floor area licensed for residential and commercial properties in Syria (2004-2007) 8. Floor area licensed for residential and commercial properties in 2007 (regional breakdown) 9. Housing units in informal areas in 2004 10. Access to state services in informal areas in 2008 Legislation Short description of seven key pieces of legislation 1. Law 15/2008 on Investment in the real estate sector 2. Government Decision 16 on investment in large residential compounds 3. Decision 186 on investment in the tourism sector 4. Law 11/2008 on the ownership of residential property by foreign individuals 5. Decree 9/2008 curbing informal housing 6. Law 33/2008 easing the registration of informal housing 7. Law 17/2007 easing access to property of low and middle-income population Projects profiles Profiles of 14 major real estate development projects in Syria 1. Abraj Souria 2. Aleppo Gate 3. Al-Markaz Tower 4. Cordoba Hills 5. Eighth Gate 6. Garden City Resort 7. Ibn Hani Bay Resort 8. Jasmine Hills 9. Majid Al-Futtaim 10. Murooj Valley 11. Naser Gardens 12. Porto Tartous 13. Tareq Bin Ziad Directory Listing of 24 companies and institutions with CEO contact details