Real Estate & Construction

Sales of Portland cement by state plants in the first quarter of this year continued to decline, according to official data.
The Ministry of Industry has signed an agreement with Pharaon Investment Group to develop the Adra Cement Plant near Damascus.
More than 100 thousand building violations on real estate properties were recorded in the last four years in Damascus and its countryside, according to a Government official.
Cement production by plants owned by the state remained relatively stable last year.
Some 15 percent of Syrian engineers have left the country, according to the union head.
A coalition of FSA and Kurdish forces have reportedly taken back control of the Lafarge cement plant located in northeastern Syria.
Syria’s demand for cement could rise to an average of 50 million tons per annum in the five years that follow the end of the conflict, according to a Syrian official.
The official price of cement sold by state entities has been increased by up to 40 percent following the recent hike in oil derivatives prices.
Some three months after it suspended production, Al-Badia Cement has announced that it has resumed operations.
Al-Badia Cement, one of Syria’s largest cement producers, reported rising losses last year, partly because of theft and other security related problems.
Around 17 thousand real estate transactions were recorded in Damascus last year, according to a Government official.
Al-Badia Cement, the Syrian subsidiary of Italcementi, said that its factory had stopped production because of security concerns.
The Real Estate Bank, a state-owned institution, is expected to provide all the funding for the infrastructure works in a controversial real estate project in Damascus.
Starting November 24, a three-day trade fair focusing on reconstruction will be held in Damascus, although only local companies will be participating.
Syria’s state-owned cement plants have witnessed another decline in their production level in the first six months of this year.


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