Turki Al-Sheikh Announces Saudi Investment Package Worth 19 Billion Riyals in Syria
July 24, 20251739 ViewsRead Time: 2 Minutes
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Turki bin Abdulmohsen Al-Sheikh, Chairman of the General Entertainment Authority, announced a massive Saudi investment package in Syria totaling 19 billion riyals during the Saudi-Syrian Investment Forum held in the Syrian capital, Damascus.
The investments include giant projects in various sectors, such as the establishment of a cultural city costing 300 million dollars, a comprehensive medical city in the suburb of Qudsaya costing 900 million dollars, and a major entertainment city in the Adawi area with investments reaching 500 million dollars.
Additionally, STC and "Ilm" companies will sign investment agreements in the telecommunications sector worth 4 billion Saudi riyals.
In terms of infrastructure, a massive metro project connecting East Damascus to its west with an investment of 2 billion dollars was announced, including integrated stations with restaurants and cafes.
The projects also involve developing gas, water, and electricity lines, with plans for a gas line from Deir Ali station to Damascus, a water irrigation and desalination line from Tartous to the capital, and an electricity line connecting solar power stations to Damascus.
In the industrial and agricultural sector, Al-Muhaidib Group is preparing to inject investments worth 200 million dollars, while the agreements in real estate development amount to around 11 billion riyals.
This massive investment package comes within Saudi Arabia's vision to support economic development in Syria and enhance bilateral cooperation in the reconstruction phase. These projects represent a qualitative leap in Syrian infrastructure and services, opening up new horizons for economic cooperation between the two brotherly countries.
This package coincides with the Kingdom's announcement, in cooperation with the International Monetary Fund and the World Bank, of its commitment to support Syria's efforts towards economic recovery.
The investments include giant projects in various sectors, such as the establishment of a cultural city costing 300 million dollars, a comprehensive medical city in the suburb of Qudsaya costing 900 million dollars, and a major entertainment city in the Adawi area with investments reaching 500 million dollars.
Additionally, STC and "Ilm" companies will sign investment agreements in the telecommunications sector worth 4 billion Saudi riyals.
In terms of infrastructure, a massive metro project connecting East Damascus to its west with an investment of 2 billion dollars was announced, including integrated stations with restaurants and cafes.
The projects also involve developing gas, water, and electricity lines, with plans for a gas line from Deir Ali station to Damascus, a water irrigation and desalination line from Tartous to the capital, and an electricity line connecting solar power stations to Damascus.
In the industrial and agricultural sector, Al-Muhaidib Group is preparing to inject investments worth 200 million dollars, while the agreements in real estate development amount to around 11 billion riyals.
This massive investment package comes within Saudi Arabia's vision to support economic development in Syria and enhance bilateral cooperation in the reconstruction phase. These projects represent a qualitative leap in Syrian infrastructure and services, opening up new horizons for economic cooperation between the two brotherly countries.
This package coincides with the Kingdom's announcement, in cooperation with the International Monetary Fund and the World Bank, of its commitment to support Syria's efforts towards economic recovery.
