Syrian Government Grants Russians New Investment for 45 years

Lattakia City Council signed a contract with the Russian company Sinara Int to invest in tourism, according to Hashtag Syria.

On Tuesday, the Lattakia City Council signed a contract with the Russian company Sinara Int to invest in the tourist site of Jules Jammal. This comes with the aim of praising a 4-star tourist complex with more than 300 hotel rooms. 

The contract is a tourist complex that includes recreational and commercial events, apartments, and hotel rooms. It will contribute to achieving high revenue for the Lattakia City Council and securing employment opportunities. 

The project is also a strategic project that has been reactivated by the Decision of the Supreme Tourism Council. 

The agency explained that the Jules Jammal site was invested in accordance with the investment system “B.O.T” for 45 years and the duration of the implementation of the contract is 6 years from the date of signing. 

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The Syrian Minister of Tourism said that the Russian company provided all the facilities to make the signing of the contract, which includes percentages of income for the benefit of the Lattakia City Council. 

He added that the contract will contribute to the development of tourism from Russia into Syria, especially with the presence of several Russian companies investing in the Syrian tourism sector. 

Development of tourism between the two countries 

The general manager of Sinara Int said that most countries in the world have closed their doors to Russian tourists, while Syria is the only one still opening its doors to them. 

He added that the contract was to confirm the development of tourism work between the two sides and that the project is important to us [the Russians], the Syrian economy, and the reconstruction.


This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.


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