The Syrian President Ahmed al-Sharaa’ held discussions with a UAE economic delegation led by Mohamed Alabbar, the CEO of Emaar Properties, focusing on potential investment and development opportunities in Syria.
This meeting in Damascus comes at a critical time as the country seeks to recover from over a decade of civil conflict, with particular emphasis on real estate, banking, and reconstruction initiatives.
A Qatari subsidiary of Estithmar Holding, acquired a 49% stake in Syria’s Shahba Bank, formerly known as Byblos Bank Syria last year, marking the first foreign banking acquisition since the U.S. lifted sanctions on Syria late last year.
Alabbar, well known for Emaar Properties, explored investment avenues by visiting Latakia: a key port city on Syria’s Mediterranean coastline. This visit underscores the strategic importance of Latakia for Syria’s economic revitalisation efforts.
The head of Syria’s Investment Authority highlighted the visit as a significant opportunity to showcase the province’s natural resources and diverse geography.
This positioning is expected to attract more foreign investment as the nation navigates its reconstruction phase and aims to capitalise on its untapped economic potential.
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