Syria on Wednesday finalised 12 major investment agreements totalling $14 billion, part of an ongoing effort to repair its economy and infrastructure after more than a decade of civil conflict.
The contracts were signed during a ceremony in Damascus, attended by interim President Ahmed al-Sharaa, and cover sectors such as transportation, infrastructure, and real estate.
Among the most high-profile deals is a $4 billion agreement with Qatar’s UCC Holding to construct a new international airport in Damascus. Additionally, the UAE's national investment corporation will fund a $2 billion subway system in the Syrian capital – a first for the country.
Another flagship project, the $2 billion Damascus Towers development, was signed with Italy-based firm UBAKO, focusing on luxury mixed-use towers expected to reshape the city skyline.
These new agreements follow a separate $6.4 billion deal inked with Saudi Arabia in July, which included housing and industrial projects. Syria’s Ministry of Economy said these partnerships are “part of a national strategy to attract foreign investment for post-war reconstruction.”
Syria’s civil conflict, which began in 2011, has devastated its economy, leaving more than 90% of the population living in poverty, according to the United Nations. More than 13 million people remain displaced or in need of humanitarian assistance.
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Saudi Arabia announced Thursday it will provide Syria with 1.65 million barrels of crude oil to help the country rebuild its economy and infrastructure after nearly 14 years of civil war.
Syrian and Saudi officials held parallel meetings in Damascus and Riyadh on Sunday, signalling deeper cooperation across humanitarian, agricultural and investment sectors.
Türkiye’s Ministry of National Defence has warned that the terrorist group Syrian Democratic Forces (SDF)’s inability to integrate into the Syrian army poses a serious threat to the country’s political and territorial integrity.
Direct road transport between Türkiye and Syria has restarted after more than a decade. The move is expected to boost trade and support Syria’s post-war recovery.
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