Real Estate & Construction

The Syrian Ministry of Defence has laid claim to 12.5 hectares of land in the Moadamiyeh suburb of Damascus for the purpose of constructing residential buildings and a sports facility, a former official from the town’s municipality told The Syria Report.
Damascus Cham Holding has given more details on one of the large developments it is seeking to promote in Marota City.
Delays in the Marota City project are generating increasing criticism, including from a prominent Iran-linked investor who believes the project may eventually die.
The Damascus governorate has awarded three new building permits in the Marota City development, although all are for individual buildings.
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.


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