Dubai based property company, Bonyan International Investment Group, has announced plans to invest $15 billion to build a tourist village within the area of Jebel Al Shiekh in Syria. Commenting on the project, Engineer Abdullah Attatreh, Chairman of Bonyan International Investment Group, said that the project will be called Syria Bonyan City and is a step towards achieving the company’s aim to build a city within every Arab city.
The new development will be the second after Jordan Bonyan City. The Syrian Higher Council for Investments has given initial approval for the establishment of this project, which will open new horizons for real estate investment in Syria. Final approval will be granted to the project as soon as feasibility studies and final designs are completed and submitted. “We are happy to have signed this important agreement with Bonyan International Investment Group. Syria Bonyan City is a mega project that will include tourist, commercial, residential and entertainment facilities including a Ski area, specialised hospitals and many other services” said .
Shaher Taqi, a Syrian investor and partner in Syria Bonyan City. “Real estate investment in Syria is growing at a rapid rate especially following recent reforms by the Syrian Government to attract foreign investment,” added Taqi. The Syrian Government recently made a number of economic and political reforms and will re-draft investment laws to reach a final version for approval and implementation. Syria is considered one of the most promising markets in the Middle East that is expected to attract foreign investments.