Kuwait Syrian Holding resumes investment in Syria with USD 12 million

Kuwait Syrian Holding resumes investment in Syria with USD 12 million
Representational photo.

Rif Dimashq (Syria News) The Kuwaiti Syrian Holding announced, on Thursday, purchasing a land in Rif Dimashq, Syria, with other investors, for 12.2 million US dollars.

A statement released by the company stated that the company purchased the land, which is located in the areas of Ya’four, with a total area exceeds 100 square meters.

The company has a share of 45% (5.5 million US dollars) in the land, and it is planning to establish a mega residential project on the whole area of the land.

The Kuwaiti Syrian Holding is one of the largest holding companies in Syria that was operating mega projects, but its operations were stopped in the country due to the war that broke out seven years ago.

The Kuwaiti Syrian Holding has several important projects in Syria, such as “Kiwan Tourism Project”, which was announced in 2009, with a cost of 127 million US dollars. The project included a hotel, a mall, a cinema complex and a conference center.

It is noteworthy that the resumption of investment in the country is a strong indicator on the return of the gulf companies to the Syrian economic arena, to contribute to the reconstruction of the country.

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