Real Estate & Construction
The price of cement sold by state plants has been increased by the government by some 50 percent following a rise in its production costs.
The demand for cement in Syria will surge to three times its pre-conflict level, according to a Syrian economist.
A third of Syria’s housing units has been destroyed or damaged by the conflict, according to the United Nations.
Rental prices are increasing in central parts of Damascus but decreasing in some other parts of the country as people relocate to escape violence.
Syrians invested some USD 172 million in the Dubai real estate market last year according to statistics from the Emirate.
The expansion of the conflict in Syria to the governorate of Suweida in the south has pushed the government to expropriate all the lands located on the border between the Suweida governorate and the Jordanian border at a depth of 30 metres.
The Damascus Governorate has announced that it was moving ahead with plans to rebuild two large informal areas in the suburbs of Damascus, a symbolic decision that sheds light on a controversial decree.
Two-thirds of Syria’s population will leave in urban areas by 2030, according to a recent report by a UN body.
Souria Holding has suspended works on its Abraj Souria project in downtown Damascus, its CFO said.
Almost half of illegal housing areas across Syria are located in the Damascus countryside, according to a state body.
Majid Al-Futtaim remains committed to its large scale Syria development in spite of a recent announcement that it was suspending works on it, the CEO of the company’s real estate arm said in press remarks.
Syrian President Bashar Al-Assad enacted this week a law enabling the establishment of mortgage finance and refinance companies, which aims to ease the financing of real estate projects but that caps foreigners' share in these companies at 49 percent.
Majid Al-Futtaim Properties, a UAE developer, said that it was suspending works on its USD 1 billion development in Yaafour on the back of the unrest gripping Syria.
The Real Estate Development and Investment Commission has licensed thirty five real estate development companies since its inception three years ago, according to its Director-General Yasser Al-Sibai.
The Syrian Government has announced the formal launch of a scheme to build 50,000 low cost housing units across the country in a bid to supply affordable housing for the population.
City View 2011 - Damascus
Four Seasons Hotel
Damascus International Fairground