Real Estate & Construction

Saudi-based Al-Oula Company for Real-Estate Development has signed a memorandum of understanding with the state-owned General Establishment for Housing to set up a holding company with a capital of EUR 350 million that will build housing schemes in Syria.
A new law is bringing down significantly the taxes levied on real estate trade and should help boost investment in the sector.
The Aref Investment Group, a Kuwaiti holding group, announced that it was working in cooperation with seven other Kuwaiti firms to launch a USD 4 billion real estate project in Damascus, the Development and Investment City.
The Dubai-based real estate company "Emaar" unveiled in a press conference held in Damascus two real estate projects worth a total of USD 3.9 billion.
Hundreds of businessmen gathered in Damascus on August 28 to participate in the first major conference on the real estate sector to be held in the Syrian capital.
The Syrian Government is preparing a new law to attract domestic and foreign capital into the real estate market.
The rise in price of real estate in Syria, and in Damascus in particular, is expected to pause in the second half of the year, according to analysts in Damascus.
City planning came under the spotlight this month during a three-day conference in Damascus held between the Syrian Ministry of Local Administration and Environment, representatives from the Marseilles office of the World Bank and the United Cities and...
The Syrian Government has decided to pour in around SYP 45 billion (865 million) into the real estate market through a program that will provide around 50,000 new flats in the coming five years to the country's youth.
The construction works on the huge central-town commercial complex are set to start within weeks.
The fall in interest rates as well as new legislation has led to a sharp increase in housing prices since the beginning of the year.
Work has started on the UAE-based Majid Al Futtaim (MAF) Group's USD 300 million shopping mall and hotel project in the Syrian capital, Damascus following approval form the government, according to Saadallah Agha al-Qall'a, Syria's Minister of Tourism.
UAE’s Arabian Construction Company and Syria’s Lead contracting signed early August the USD 28 million contract to build the new complex of the Ministry of Foreign Affairs, reported MEED.
The Ministry of Construction has announced that it had put forward a draft project to merge the six companies affiliated to it, into three new companies, and that the draft document had been accepted by the Government.
The Buildex Exhibition will open in Damascus on May 9.