Syria has signed a memorandum of understanding that could lead to a deal valued at more than $4bn with a consortium led by Qatar’s UCC Holding to redevelop Damascus International Airport.
The MoU was signed under the patronage of Syrian President Ahmad Al-Sharaa and aims to enhance the airport’s capacity and infrastructure.
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This initiative is intended to improve global connectivity and stimulate economic growth, trade, and tourism within the country.
The consortium comprises UCC Concessions Investments from Qatar, Assets Investments USA, and Turkish firms Cengiz İnşaat, Kalyon İnşaat, and TAV Tepe Akfen.
TAV chairman Sani Şener said: “We view this project as a strategic investment opportunity that goes beyond infrastructure development.
“It is a gateway to revitalising the Syrian economy and reintegrating it into regional and global trade and investment flows.”
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By GlobalDataThe project will be executed in five phases, increasing the airport’s capacity to accommodate 31 million passengers annually.
The initial phase aims to handle six million passengers, with subsequent phases expanding capacity to 16 million and then to the final target.
The airport will adhere to international standards set by the International Civil Aviation Organization (ICAO) and the International Air Transport Association (IATA), featuring modern facilities including up to 32 gates and a comprehensive air navigation service system.
The project will also involve the development of a 50km access road and includes $250m financing for the acquisition of up to ten Airbus A320 aircraft for Syrian Airlines.
The redevelopment of Damascus International Airport is projected to generate more than 90,000 direct and indirect jobs.
Earlier, UCC worked on the development and execution of various airports, including Hamad International Airport in Qatar, Rwanda International Airport, and Tripoli Airport in Libya.
UCC Holding chairman Mohammad Moutaz Al-Khayyat said: “This project embodies the outcome of a strategic partnership bringing together a select group of leading international companies with a unified goal: rebuilding one of Syria’s most vital facilities in a way that reflects its future ambitions.
“At UCC Holding, we believe that the success of projects of this magnitude requires the integration of global expertise with a deep understanding of local market needs—a principle we aim to apply in every stage of implementation.”
