Damascus - Syria
The Syrian capital, Damascus, inaugurated a new phase in the path of economic cooperation with Doha, with the launch of the “Qatari Syrian Holding Company” during a ceremony held at the “Ebla Al-Sham Hotel” in the Damascus countryside, attended by the Minister of Tourism, Mazen Al-Salhani, and a number of officials and senior Qatari investors, in a step that redraws the features of the Syrian tourism sector after years of cessation.

This partnership comes to place tourism at the top of the reconstruction priorities, through a package of projects extending to housing, energy and industry, but the compass is strongly directed towards rehabilitating historical hotel assets and developing urban facades capable of attracting visitors again.

Al-Shahba Hotel and Aleppo Corniche... icons coming back to life

In the heart of the tourism scene, the rehabilitation project of the historic Al-Shahba Hotel in Aleppo, one of the most ancient Syrian hotels, stands out, in partnership between the “Glory” group and the “Bundus” international group. This project returns an ancient hotel asset to the tourism activity circle, after years of cessation due to the events that the city went through.
In addition to the hotel, the Aleppo Corniche project is being launched, which aims to transform the urban facade into a space that includes commerce, entertainment, and open spaces, in an attempt to restore vitality to the city, which has long been a destination for tourists and those seeking history and authenticity.

Tourism...the pillar of economic recovery

Sheikh Nayef bin Eid Al Thani, Chairman of Tamim Holding Group, confirmed during the ceremony that “

The launch of the partnership reflects confidence in the future of investment in Syria, and translates it into a long-term process.”

He pointed out that tourism projects are at the top of the company’s priorities, followed by real estate projects, given the experience of Qatari companies in hotel management, hospitality, and real estate development.

Al Thani explained that the expected investments will be distributed across three Syrian governorates, with a focus on the real estate, industry, agriculture, energy and technology sectors, stressing that the partnership aims to support the economy, provide direct and indirect job opportunities, and involve local companies and suppliers in the various stages of implementation.

From Tartous to Arwad... diversifying the tourism product
The investments are not limited to Aleppo and Damascus, but rather extend to include a tourism and service project in Tartous on the Syrian coast, and a tourism and entertainment project on Arwad Island, in addition to the equestrian club in Raqqa, in an approach that reflects a vision to diversify the tourism product and not limit investment to one type.

The success of the next stage will depend on implementation, not advertising

Ahmed Rawad Ramadan, Director General of the Syrian Investment Authority, confirmed that

“The success of the next stage will be measured by the number of projects that start on the ground, and the Authority is working to build a clear and fast investment environment, and provide an integrated path for the investor from idea to implementation.”

Calling for building a clear and fast investment environment that provides an integrated path for the investor from idea to implementation.

The biggest challenge facing these ambitions remains translating the agreements into projects on the ground, with the integrated infrastructure that this requires, including hotels, restaurants, services, entertainment, transportation, and energy, and not just establishing individual facilities.

The Arab tourist and investor are at the heart of the scene
For Arab tourists, these projects hold the promise of the return of destinations that have long been popular with visitors, from the streets of ancient Aleppo to the charming beaches of Tartous and Arwad. For the Arab investor, the partnership opens new horizons for entering a tourism market suffering from a severe shortage of hotel and entertainment services, with expectations of increased demand as the situation stabilizes and the return of expatriates and tourists.