UAE based firm to invest $350 million in Damascus real estate sector
A real estate group based in the UAE will invest some $530 million in a series of projects in Syria, including a 50-storey Damascus World Trade Centre.
The Syrian government gave the nod for the trade centre, which will be set up at a cost of $120 million by Tiger Real Estate, part of the Tiger Group based in the emirate of Sharjah.
Tiger Group deputy general manager Saleh Shereen said the company had received government approval for the first of five projects.
The group, owned by Syrian expatriates, will found a company in Syria to oversee the project, Shereen conveyed.