Real Estate & Construction

Sales of cement at Syria’s state-owned plants slightly decreased last year, according to preliminary data.
Damascus Cham Holding is establishing a new joint venture with private investors to develop several properties in Marota City, the controversial large real estate project in the Syrian capital.
Syrians ranked among the largest foreign investors in Lebanon’s real estate market last year, Lebanese data indicate.
The demand for steel and cement in Syria is too low to justify any new investment in this sector, government officials have said.
A Kuwaiti-based company has announced the purchase of a plot of land outside Damascus, in a very rare case of an investment by a Gulf company in Syria since 2011.
The Syrian regime is planning to extend to all of Syria a law that enables the displacement of populations from informal housing areas under the pretext of building modern real estate development projects.
Updated on February 02, 2018 (see bottom for details on updates): A new Syrian investor has signed an agreement to invest in the Basatin Al-Razi real estate area near Damascus.
A Syrian businessman, little heard of until recently, has signed two contracts worth hundreds of millions of dollars to participate in the development of the controversial Basatin Al-Razi project.
The Pharaon Investment Group has taken over the management of the state-owned Adra Cement Plant, which it will seek to develop.
Samer Foz has been granted the right to develop real estate properties worth hundreds of millions of dollars in the Basatin Al-Razi project in Damascus.
Rami Makhlouf established earlier this year yet another company to invest in the Syrian real estate sector.
Despite its large portfolio of non-performing loans, the Commercial Bank of Syria has disbursed a significant amount of money to help fund infrastructure work in the controversial Basatin Al-Razi development.
Russian investors are increasingly eyeing Syria’s land and real estate properties, which are among the few valuable assets the Syrian regime can still hand over to its cronies and allies.
A government media has admitted that residents of the controversial Basatin Al-Razi area that were expelled have not been offered any alternative accommodation despite a legal obligation and formal commitments by officials to do so.
Lafarge, the French building materials global company, reportedly paid various armed groups in Syria, including the Islamic State, in order to protect its factory located in the north of the country as it hoped to remain operating and benefit from reconstruction.