Real Estate & Construction

MuhiEddine Al-Manfoush has been awarded a contract to remove rubble from three towns in Eastern Ghouta, a deal that highlights the diversification of businessmen who acquired wealth during the war.
The government has announced a new plan to rehabilitate the Barada valley area with the aim of securing water supplies to the Syrian capital and attracting investment in the real estate sector.
Syria’s only private sector cement company reported a significant increase in its 2018 sales.
Two Syrian investors that were active before 2011 have announced that they intend to invest in real estate projects in the country.
The Aleppo governorate is establishing a holding company to manage its assets, including developing real estate projects.
Samer Foz has reportedly established a company that will invest in cement production.
While most attention has focused on the Marota City development in Damascus, other Syrian provinces also plan their own real estate redevelopment projects and are setting-up holding companies for that purpose.
The executive director of Damascus Cham Holding has resigned, citing medical reasons.
An Iranian official has said that Iran has plans to build a large number of housing units across Syria, in particular around Damascus.
The only private sector cement company still operating in Syria reported a 58 percent annual increase in its annual revenues last year, as its German shareholder announces it is selling its stake.
The Syrian government has reportedly began the destruction of the Haidariyah neighbourhood in the north-eastern part of the city of Aleppo.
As expected, the contract for the development of the Yalbugha real estate compound in central Damascus has been awarded to Wassim Qattan, 45 years after works on the project started.
The potential award of one of Damascus’ prime real estate plots to one of the most prominent business figures to have emerged from the war highlights the importance some new business figures have taken.
Preliminary data indicate that demand for cement, a proxy for construction activity, was at best stable last year.
Chinese investors, among others, have recently been visiting the site of the Marota City project, which is struggling to attract investors and funding.


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