This article is from: srnnews.com
Qatar, UAE Lead $14 Billion Investment Push to Rebuild Syrian Infrastructure
By The Media Line Staff
Syria has signed a series of major investment agreements totaling $14 billion with regional and international companies, marking the most significant economic commitment to the country since the easing of Western sanctions following the collapse of the Assad regime.
Twelve new projects were formalized at a ceremony in Damascus on Wednesday, including a $4 billion upgrade to the capital’s international airport by Qatar-based UCC Holding. Once completed, the modernized airport is expected to accommodate up to 31 million passengers annually, according to state-run media.
The investment package also includes a $2 billion contract with the United Arab Emirates’ National Investment Corporation to construct a subway network in Damascus. Officials estimate the transit system will serve approximately 750,000 commuters each day. In addition, plans were unveiled for a $2 billion residential development involving the construction of 60 high-rise towers providing 20,000 housing units just outside the city.
“These agreements are a clear signal that Syria is open for business and committed to rebuilding,” said Talal al-Hilali, head of the Syrian Investment Authority, who addressed attendees at the signing event. Interim President Ahmad al-Sharaa was also present at the ceremony.
This wave of investments follows a $6.4 billion package of 47 agreements signed in July between Syria and Saudi Arabia, which included projects across energy, construction and industry.
Earlier in May, Damascus secured a $7 billion deal with a consortium of Qatari, Turkish and American firms to develop a 5,000-megawatt energy project aimed at restoring much of the country’s power infrastructure.
“The road to a peaceful and prosperous Syria lies in strong regional cooperation,” said US special envoy Tom Barrack, who was among the foreign dignitaries in attendance.
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