Syria Secures $14 Billion Investment for Economic Revival
Syria signed $14 billion in investment deals, focusing on infrastructure and real estate to rebuild from war damage. Key projects include a new airport in Damascus with Qatar's UCC holding and a subway with the UAE's national investment corporation. Syria aims to revive its economy post-civil war.
On Wednesday, interim President Ahmed al-Sharaa oversaw the signing of 12 significant investment agreements aimed at rejuvenating Syria's war-torn economy. The $14 billion package covers infrastructure, transportation, and real estate initiatives designed to stimulate economic growth.
A standout $4 billion contract was awarded to Qatar's UCC holding for the construction of a new airport in Damascus. Additionally, a $2 billion deal will see the establishment of a subway system in the Syrian capital, with the UAE's National Investment Corporation playing a central role. Italy-based UBAKO has also signed on for the $2 billion Damascus Towers project.
This follows a July announcement where Syria secured $6.4 billion in investments from Saudi Arabia, as the nation endeavors to rebuild following a 14-year civil war.
(With inputs from agencies.)
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