Aleppo, June 16 (SANA) Aleppo Governor Azzam al-Gharib laid the foundation stone on Tuesday for the Western Ring Road investment project (Plot 5), in the presence of representatives from the Syrian Investment Authority and a number of investors, the governorate said.
Investment plots were handed over to mark the start of construction work on the project, which aims to enhance the investment environment in the city, create new job opportunities and support reconstruction and economic development efforts.
Hazem Lutfi, head of the Syrian Investment Authority branch in Aleppo, told SANA that the project spans approximately 850,000 square meters along the Western Ring Road. Three investment contracts have been signed and ratified, with sites handed over to investors ahead of construction work.
The project is being implemented in two phases: the first involves organizing existing occupancies within four months through the construction of seats, kiosks and public services, alongside necessary studies for the site’s final layout. The second phase will begin after approximately six months, involving gradual full implementation over two to three years.
Ali Hallaq, a member of the Aleppo City Council and responsible for council investments, said the project is one of the largest investment projects in the city, with a minimum establishment cost of approximately $70 million. He added that about 50 percent of the ring road area will be allocated for free public use, providing an organized public space for residents, boosting economic activity and increasing council revenues to improve services for citizens.
In May, the Syrian Investment Authority branch in Aleppo signed investment contracts for a number of sites within the Western Ring Road project. The project is expected to provide more than 3,000 direct and indirect jobs, boosting economic activity and improving services in the city.
The Western Ring Road is one of Aleppo’s most vital corridors and open spaces, spanning wide areas connecting several neighborhoods and main entrances, and drawing large numbers of residents, particularly during summer. Authorities aim to organize the area, develop its infrastructure, increase green spaces and public services in line with urban development and quality of life improvement plans.
KhA
