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High Demand From Expatriates to Set up Real Estate Companies

Investment projects have been launched that will lead to the construction of a million homes, with a number of expatriates keen to invest writes Al-Watan.
High Demand From Expatriates to Set up Real Estate Companies

The director of the Real Estate Investment and Development Foundation, Ahmed Homsi, revealed to Al-Watan that investment projects have been opened to secure housing for about a million people, including important bank facilitations, as there are loans being worked on to encourage subscriptions, and the prices will be studied.

He said that there are currently 12 opportunities ready to be offered, with the aim of investing in the real estate development and investment fields. He added: “Our projects are integrated and based on establishing small complexes and cities that provide their residents a high-quality living and ensure all necessary daily services.”

He continued, saying, “These opportunities have been offered to interested Arabs and foreigners, through the Damascus International Fair, and they promised to be in touch for more information. The Bulgarians expressed their interest in this area.”

He said that there was major demand for licensing real estate development companies and that these companies were mostly local—especially from expatriates, as a number of them are trying to set up local real estate companies. He added: “Over the last few days, we noted good demand for the licensing of real estate companies.”

Homsi said that when there were requests to license any companies, meetings were held with the company or institution to find out their aspirations for the future, while they also need to submit their property development vision and other necessary steps.

He said that so far, there were 26 real estate development projects, including the Wadi Barada project, which is a touristic and residential project, as well as the Tel Mneen project in the Damascus countryside. There are other projects in Aleppo and Homs. He also said that there were eight projects from the private sector, a portion of them being developed quickly, and that great advances had been made, and that some of these projects would start very soon.


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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