The Higher Council for Investment approves establishing joint national real estate company with a capital of SYP 50 billion

Damascus, SANA- The Higher Council for Investment, during a session chaired by Prime Minister Imad Khamis on Saturday, approved establishing a joint national real estate company between the General Establishment for Housing, public banks, and Zubeidi & Qalai Company, with a total capital of SYP 50 billion.

Part of the company’s stocks will be put up for public subscription in order to support urban development in Syria, as the company would contribute effectively to meeting the real estate market’s needs and participate actively in reconstruction in accordance with the modern housing and real estate standards and principles, thereby providing housing and job opportunities and revitalizing the economy.

The Council also approved expanding investments in free zones, as it approved the request of a private company to establish a plant for cooking gas cylinders in one of the free zones.

Premier Khamis instructed the Ministry of Economy and Foreign Trade to expand the list of import licenses in a manner that would contribute to increasing production and preventing monopoly.

Shaza / Hazem Sabbagh

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