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- Dar Global awards main contract for $531m Trump Tower Jeddah
- Bahrain lowers real estate investment needed for Golden Residency
- Burgan Bank receives Digital Transformation Excellence Award for leveraging SAP technologies
- S&P Global Ratings upgrades NBK's credit rating to 'A+' with a stable outlook
- Kuwait reaps benefits of reforms
- ADNOC Gas and EMSTEEL sign $4bn low-carbon gas deal
- FSA orders public joint-stock companies & investment funds to shorten dividend transfer
- Syria and Saudi Arabia's AJDAN Sign MoU to Establish Tourist Project in Damascus
- Saudi Arabia Emerges Among Fastest Growing G20 Events Markets
- Multiply Media takes full control of London Lites in UK expansion push
27/11/2025 04:21 AST
The Syrian Investment Authority signed on Tuesday a memorandum of understanding (MoU) with the AJDAN Saudi real estate company to establish a tourism project in Damascus.
"The MoU will initiate a feasibility study for a multi-use tourism project in Damascus," the Investment Authority said in a statement.
The project is planned for an area of approximately 800,000 square meters and will be part of broader efforts to modernize Syria's tourism sector and boost its economy.
On Monday, Director General of the Syrian Investment Authority Talal al-Hilali met with a delegation from AJDAN to discuss potential investment opportunities in Syria's real estate and tourism sectors, particularly the Ebla Hotel and the Conference Palace, as part of broader tourism investment plans. aiming to revitalize the country's struggling economy.
Al-Hilali noted that Syria currently needs 100,000 new housing units across various regions.
He emphasized the Authority's readiness to collaborate with AJDAN to ensure the success of the proposed projects.
Founded in 2016 in Al-Khobar, AJDAN Real Estate Development Company is one of Saudi Arabia's leading firms in the real estate sector.
The company specializes in integrated residential, tourism, and entertainment projects. With its extensive experience, AJDAN is well-positioned to partner in Syria's tourism and housing development.
Asharq Al Awsat
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Saudi Arabia