The announcement was made by the chairman of the Syrian Investment Authority, Talal Al-Hilali, during a ceremony to sign memorandums of understanding with a number of international companies.

“Today we are announcing a package of 12 major strategic projects, with a total value of $14 billion,” Al-Hilali said, who stressed that these are key initiatives for urban development, transportation and national infrastructure.

Among the most prominent projects are the modernization of Damascus International Airport, with an estimated investment of US$4 billion; the Damascus Metro, worth US$2 billion; and the Damascus Towers, a major urban development that will require a similar investment.

Also contemplated are the Baramkeh Towers in Damascus, with an expected cost of US$500 million, and the Baramkeh Mall, with an investment of US$60 million.

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