Syria Investment Surge: Gulf Nations Pour $28bn Into Recovery Projects

Syria pulled in $28 billion worth of investments in just 10 months after the 2024 overthrow of Bashar al-Assad’s government. This money marks a crucial step toward recovery, but it still falls short of what the country needs to rebuild. The World Bank estimates Syria needs about $216 billion for reconstruction.

Saudi Arabia leads Syria’s economic comeback with $6.4 billion in investment and partnership deals to help rebuild the war-torn nation. Saudi companies stepped up their involvement and poured $7 billion into different parts of Syria’s economy. The investment momentum picked up steam when deals worth more than $14 billion were signed in Damascus on August 6 – the biggest investment package so far.

The road ahead looks tough. The United Nations Development Program puts Syria’s total losses at $923 billion, counting both physical damage and economic hardship. The United Nations Economic and Social Commission for Western Asia calculated that the war cost $442.2 billion by 2020. The recent surge in investments might signal better days ahead for a country that wants to rebuild after years of devastating conflict.

Syria secures $28bn in Gulf investments at Riyadh summit

_{Image Source: Reuters}

Syrian President Ahmed al-Sharaa delivered a compelling message about investment-driven reconstruction at the prestigious Future Investment Initiative (FII) in Riyadh. His address to Saudi Crown Prince Mohammed bin Salman revealed Syria’s success in securing AED 102.81 billion ($28 billion) in investments during the last 10 months.

Major Saudi companies have already committed AED 25.70 billion ($7 billion) to various projects in Syria. The country’s reconstruction efforts received additional support from leading Qatari firms, which invested in Damascus Airport and power generation projects that will produce 5,000 megawatts.

“We chose the path of reconstruction through investment; we did not choose the path of rebuilding Syria through aid and assistance,” stated al-Sharaa. His government’s commitment to foreign investment became evident through amended laws that now allow investors to transfer funds out of the country.

Syria’s investment landscape extends beyond Saudi Arabia and Qatar, with active discussions underway with Kuwait, Bahrain, Jordan, and Turkey. The nation’s position as a valuable “trade corridor” presents substantial opportunities for global investors.

The audience applauded when al-Sharaa described Saudi Arabia as “the key” to Syria’s investment future, while Prince Mohammed smiled from his front-row seat. This summit appearance marks a vital step in Syria’s journey to rejoin the global economic community after years of international isolation.

Gulf nations sign major deals across key Syrian sectors

_{Image Source: Middle East Monitor}

Syria and Gulf nations have established significant cooperation through concrete agreements in key strategic sectors. A landmark AED 25.70 billion energy deal emerged in May 2025 between Syria and a consortium led by Qatar’s UCC Holding. The agreement will boost Syria’s power grid by 5,000 megawatts through four gas-powered plants and a 1,000-megawatt solar farm. These initiatives will generate over 50,000 direct jobs and 250,000 indirect positions.

Syria secured 12 major investment deals worth AED 51.41 billion on August 6th. UCC Holding won a AED 14.69 billion contract to develop Damascus International Airport. The UAE’s National Investment Corporation simultaneously landed a AED 7.34 billion deal to build a metro system in Damascus[122].

Major real estate investments include the AED 7.34 billion Damascus Towers project with Italian-based company UBAKO[122]. The development plans also feature the AED 1835.97 million Baramkeh Towers project and the AED 220.32 million Baramkeh Mall.

DP World received a AED 2937.55 million contract to develop and operate the port of Tartous for 30 years. These strategic investments address critical infrastructure needs while creating thousands of jobs throughout Syria’s economy.

Syria reforms laws and courts global investors

_{Image Source: Asharq Al-Awsat}

Syria’s economic revival strategy centers on major changes to its investment laws. The country’s investment framework now stands among the world’s top ten after review by global firms, Saudi Arabia’s Ministry of Investment, and international economists.

The new laws let investors move their profits and much of their capital outside the country. This change fixes old rules that only allowed foreign exchange for buying equipment.

A key breakthrough came in June 2025 when Syria completed its first international bank transaction through SWIFT since the war started. This milestone deal between Syrian and Italian banks opens doors to predicted connections with U.S. banks.

Tax breaks are the foundations of these reforms. Agricultural projects get full income tax exemptions forever, while development zone projects receive 75% tax cuts for ten years. Industrial exporters also get 75% reductions, plus an extra 5% off when they hire Syrian workers.

The country offers other perks like import rights, development funding, and technical help programs. Saudi Arabia and Syria signed a deal that will give legal protection to investors and secure money flow in sectors of all types.

Gulf investments have sparked new hope for Syria’s economic recovery after years of conflict. The $28 billion raised in just ten months is the most important first step, but it covers only a small part of the $216-923 billion needed to rebuild completely. Saudi Arabia has definitely taken the lead by investing billions across sectors. Other Gulf nations like Qatar and UAE have also made big commitments to energy, transportation, and infrastructure projects.

President Al-Sharaa wants to rebuild through investments rather than relying on foreign aid. His government has reformed Syria’s investment laws to allow profit transfers abroad. New tax incentives now appeal to international investors. These changes are already showing results with major deals in energy, transportation, real estate, and maritime sectors.

The country faces huge obstacles ahead. Years of war have devastated the economy, and Syria needs much more investment than what’s currently available. But renewed diplomatic ties with Gulf nations could help Syria get back on its feet. The country’s location as a valuable trade corridor could attract even more investment.

These changes might mark a turning point for Syria. Better investment laws, renewed banking connections, and mutually beneficial alliances with Gulf nations are creating momentum. We have a long way to go, but we can build on this progress. The financial commitments so far show that Syria is slowly finding its way back to the global economic community after years of isolation.