Syria Projects

[vc15nets]

Emaar, $4.3bn Syria push

United Arab Emirates: Tuesday, October 11 - 2005 at 09:42
Dubai-based Emaar Properties will invest about $4.3bn in developments in Syria, according to a report in the London-based Arabic newspaper Asharq Al-Awsat. Emaar will reportedly put $4bn into a 50m sqft project near Damascus, called Damascus Hills, and have a 40% stake in a $700m development called the Eighth Gate.

[Bahraini Spirit]

Emaar has to have a project called hills somewhere hehe. Well, good for Syria.

[Saudi Dunes]

Why Syria...and a 4 billion dollar investment above that??!! I can state several reasons with why that was probably not one of EMAAR's best moves...especially with America breathing down Syria's neck, and now before the UN investigation concludes?

[BigDreamer]

intersting, i wanst expecting syria, did they mention the expected rate of return for either projects

[Skoulikimou]

more good news ,this time in details


Two Gulf real estate developers to announce Syria projects
Posted: 13-10-2005 , 09:33 GMT

Emaar and Kuwait's Aref Investment Group will soon announce the launching of huge investments in Syria through, reported Al-Sharq al-Awsat newspaper on October 10. DamascusThe first of these projects is called "Al-Bawaba al-Thamina" (The Eighth Gate). Emaar's share in this project will be 40%, while Bank of Syria and Overseas (BSO) will have the reminder 60% of this $700 million project's capital.


The project will include construction of a services, finance and tourism complex in Yafur area near Damascus. The complex will supply high technology infrastructure and will form an international tourism attraction.


The second project, which is called "Talal Damascuss" (Damascus Hills), will be accomplished on a 5 million square meters area near Damascus to serve as Damascus Digital City similar to Dubai Internet City. The project will include commercial and marketing services area and a luxury residential area. This investment is owned completely by Emaar. It will cost $4 billion and will be accomplished within 8 years. The land for the project has already been selected and the group is currently dealing with the procedures of purchasing it.


As for the project of the Kuwaiti Investment Group Aref, the group aims to establish a finance district in one of Damascus' suburbs, which will host the stock exchange, banks' branches, financing companies and financing-
related IT companies.


Another project will be constructed close to Aleppo on a two million square meters area. It will include technological area, medical area, educational area, industrial zone and residential area. The investment costs in this project are estimated at $3 billion.
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[Dubai-King]

Originally Posted by Saudi Dunes

Why Syria...and a 4 billion dollar investment above that??!! I can state several reasons with why that was probably not one of EMAAR's best moves...especially with America breathing down Syria's neck, and now before the UN investigation concludes?

Why not?

Also, EMAAR is above stupid politics.

And as long as there is a market, it's a great move by Emaar.

[letsgoworld]

I would say its a good in the Middle east, as Syria is one of the countries left behind the development of the region. This will also have a major breakthrough in the Arab country relations.

Talking about USA, America politicians or consitution building people should change there view on their International relations. One way they are trying to help the world to end terrorism, but in other ways they are creating their own enemies and a Big threat to the people of America. whatever country they attack, but as per my believes the harmed are the innocent people of that country, and its the biggest crime against humanity.

[vc15nets]

Emaar's $500m Eighth Gate
Syria: Tuesday, October 18 - 2005 at 16:23

Emaar Properties has unveiled a $500m development in Damascus, called the Eighth Gate, which will consist of mixed use residential, commercial and retail units. The project is a joint venture between Emaar and IGO, the offshore investment and property development company. Divided into three zones, the development comprises apartments and villas, a classical style piazza, commercial tower, a plaza and a 450,000 sqft retail mall.

[Skoulikimou]

is this a different project from Damascus hills or just a part of it ?

[vc15nets]

I think this is different from Damascus Hills

[Skoulikimou]

if so ,then Damascus must be booming

[Gilgamesh]

What's up with all these projects for Syria? I mean...it's good news for them, i guess...but Is it really a safe place for investments right now...?

[BigDreamer]

as far as i know they been having a toursim boom for the last year or so !!! obviously ppl arnt that afraid to go there !!

[Qatar4Ever]

I wont invest in Syria if i was given the opportunity.

[Koweitien]

A new Four seasons Hotel was officially opened on Wednesday, 22 March 2006 in Damascus. The opening ceremony was attended by Syrian President Bashar Al Asad and the Saudi Billionaire Al Waleed Bin Talal.

65% of the hotel is owned by Al Waleed and the rest of the hotel is owned by the Syrian Ministry of Tourism and the Syrian Municipality.

According to SANA the hotel's construction costed around US $ 100 m. The hotel consists of 18 floors which were decorated in Ottomon, local and Persian styles. The hotel contains 297 guestrooms and suites including 12 presidential suites; a spa and three restaurants.

[sargon]

سورية تطلق أكبر مشروع سياحي على الساحل

دمشق: هيام علي
أعلن رئيس مجلس الوزراء السوري محمد ناجي عطري امس عن البدء بالاعمال التنفيذية لأكبر مشروع سياحي على الساحل السوري بكلفة تصل الى 200 مليون دولار.
وذكر رئيس مجلس الوزراء السوري عقب وضعه حجر الاساس لمشروع انترادوس، ان المشروع سيشكل البداية لاطلاق سلسلة من المشاريع السياحية في الساحل السوري الذي يتمتع بمقومات واسعة وكبيرة للجذب السياحي، وحيث جمال الطبيعة الساحر.

وأكد ان الحكومة ستقدم كل التسهيلات اللازمة للمستثمرين ومرحبا بالشركات البريطانية والاجنبية للقدوم الى سورية والاستثمار فيها.

ومشروع انترادوس هو استثمار سوري ـ بريطاني مشترك يساهم فيه مجلس محافظة طرطوس بـ30%، وشركة جونار انترناشيونال ليمتد البريطانية بـ25%، وشركة كيرود انفستمنت كومباني البريطانية بـ25%، وشركة وحود غروب البريطانية بـ10%، والمستثمر السوري محمد علي وحود بـ10%.

وفي تصريح لـ«الشرق الأوسط» قال حسان طاهر مدير المشروع ان اعمال التنفيذ تشمل اقامة فندق دولي من الدرجة الممتازة فئة خمسة نجوم بطاقة 300 غرفة، وفندق من الدرجة الممتازة اربع نجوم بطاقة 380 غرفة، وفندق ثالث من فئة اربع نجوم بطاقة 110 غرف.

بالاضافة الى ابراج سكن سياحي من الدرجة الممتازة بطاقة 420 غرفة، ومراكز تجارية ومكاتب ادارية ودار سينما واماكن ترفيه وتسوق ومركز يخوت وزوارق وحدائق عامة ومسرح مكشوف. واشار الى ان مساحة المشروع تبلغ 450 ألف متر مربع و70% مساحات مردومة في البحر. واوضح ان الشركة تتفاوض حاليا مع شركات عالمية لادارة المشروع مثل الانتركونتيننتال ورئيس كارلتون، ومن المخطط ان ينتهي المشروع بعد خمس سنوات.

وكان رئيس الحكومة السورية اطلق أمس مجموعة من المشاريع الاغاثية والخدمية في عدد من مناطق الساحل السوري، في اطار خطة لتنمية المنطقة وتطوير بنيتها التحتية.

[Giorgio]

That languange is so pretty.
Too bad I cant read

[asif iqbal]

I was in Syria, Damascus in summer of 2004 and seen a hotel under construction at the time, it was a four seaons hotel does anyone have any pictures I am sure its made by now

as a side note we should have a syria forum with pictures it probably one of the most unqiue countrys with culture, history, people and religion

[Halawala]

I think its completed, and its also the first 5 star hotel in the country in more than 20 years or something like that. I might be wrong in this case.

[Chalaco]

FS Hotel

image hosted on flickr