Real Estate & Construction

Damascus had the 3rd most expensive retail rents in the Middle East according to a recent survey. 
Construction works at Majid Al-Futtaim’s Syrian development are now expected to start within 12 to 18 months, according to Peter Walichnowski, CEO of Majid Al Futtaim Development.
Mace Group of the UK has announced that it had been appointed by Bena Properties, the real estate development arm of Cham Holding to manage the construction of Bena’s Aleppo Crown project.
Syria’s total output of cement stood at 5.336 million tons in 2008, according to the General Organization of Cement and Building Materials.
Works on the Gardenia Project in Homs will be completed by 2011, according to the company developing it, Gardenia Real Estate and Tourism Investment Company GRETIC).
Emaar-IGO has spent so far around SYP 6 billion (USD 127.7 million) on the construction of the Eighth Gate project, Sarhad Haffar, general manager of Emaar-Syria, said.
TREE AG, a Munich-based consultancy, has announced that it was selected to operate as a designer, consultant and manager of a commercial complex under development by Concord Al Sham International Investment Company.
Halcrow, an international consultancy firm based in the UK, plans to make Syria the regional hub of its operations in the Middle East, Haysam Jazairi, general manager of Halcrow Syria, has said.
The Syrian Government has allowed again the import of cement by private companies after a four-month ban.
Invest Group Overseas (IGO) will launch a new residential property development by the end of June, according to Anas Kuzbari, managing partner and CEO of the company.
Al Badia Cement will begin production in the second half of 2010-early 2011, according to Matteo Rozzanigo, Middle East Development Manager at Ciments Français.
Guris Al-Raqqa Cement Company, Syria's first privately-owned cement manufacturer, commissioned its clinker milling plant on April 11.
The implementation instructions of Law 15/2008, governing investment in the real estate sector, are expected within weeks, according to Yasser Sibai, head of the Real Estate Development and Investment Commission.
The Syrian-Kuwaiti Al-Jaz Group (SKJG) plans to build a shopping mall in Raqqa, the first shopping center to be built in the eastern region.
Emaar- IGO has revised significantly upwards the total cost of its Eighth Gate project in Yaafour.


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