Mouaffaq Al-Gaddah (32)


In this factsheet, we look at Syria’s economic relations with the United Arab Emirates.


These tables list the companies that have been licensed by Syria's real estate commission.


A Syrian business group is planning to set-up a new freight company dedicated to exports to the UAE.


A Syrian investor, despite being a close associate of Samer Foz, has seen his assets frozen by the Syrian government for the second time in the space of five years.


The Syrian Government has removed the name of this prominent overseas businessman from its blacklist potentially indicating his return to the country.


In this 2,300-word factsheet we provide a profile of Samer Foz, who in the space of the past two years has risen to become Syria’s most powerful investor.


The government has ordered a provisional custody on the assets of Imad Ghreiwati, one of Syria’s most prominent investors prior to 2011, a move that adds a layer of instability to investors planning to return to the country.


Several prominent Syrian businessmen, under pressure by the regime, have sold their assets to members of the new business elite, a reflection of how the war is changing the Syrian business landscape.


The Government is reportedly using an old agrarian reform law to dispossess investors living outside Syria from their land properties.


The UAE welcomed more than 100 thousand Syrians since the beginning of the uprising in 2011, the Government said in response to strong criticism of its policy towards Syrian refugees.




Tourism Investment and various Trading


Abdallah Dardari, Syria’s former Deputy Prime Minister, provided an estimate for the economic cost of Syria’s reconstruction during a business forum in which many of Syria’s old business faces reappeared.


Pro-regime media outlets have published names of leading investors that reportedly owe their banks large sums of money.


Development and management of real estate project


The Syrian financial markets regulator has suspended the operations of IFA Financial Services, a brokerage house licensed since 2008.


Real estate development and investment


Emaar IGO issued a press release saying it had already delivered 315 office units in the first phase of its Eighth Gate compound outside Damascus and that it was continuing works on the project.


Real Estate development and investment


Set-up and operate restaurants, hotels, entertainment centers, integrated commercial malls; trade; representation of companies and agencies; contracting


No Syrian made the Arabs Rich List in this year’ annual survey of the 50 wealthiest Arabs.


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.


The Damascus Securities Exchange has granted IFA Financial Services Co. a formal membership to operate in the Damascus bourse.


Talal Abu-Ghazaleh, Ernst and Young, Arab Bank Syria and Bank Audi Syria are among the firms that received, in the last few weeks, a preliminary license to operate as brokers in the Syrian market.


IFA Financial Service Co. (IFA-FSC) has become the third brokerage firm to be allowed to operate in Syria after it received a full license from the Syrian Commission on Financial Markets and Securities (SCFMS) on October 27.


Emaar-Syria will launch a tender for the construction of four furnished apartment buildings and three office buildings in the Eighth Gate project before the end of this year, according to Sarhad Haffar, general manager.


The Dubai-based real estate company "Emaar" will start developing its USD 500 million Eighth Gate project by the end of the first quarter of 2007, according to Moafaq Al Gaddah, Chairman of the Investment Group Overseas (IGO), an offshore inv...


The Syrian Government ratified on 19 September the draft law for the establishment of the Damascus Stock Exchange.


The foundation stone has been laid on a USD 500 million real estate project on the outskirts of Damascus.


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.