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25-07-2025
RIYADH: Saudi Arabia has said it will invest approximately $3bn in real estate and infrastructure projects in Syria, the latest economic lifeline to help usher in a new chapter in the nation, devastated by a nearly 14-year civil war.
The $2.9bn investment is part of a broader $6.4bn in deals, Investment Minister Khalid al-Falih said on Thursday at a conference in Damascus.
Saudi Arabia has been a major backer of the new Syrian government, which seized power after rebels’ toppled longtime ruler Bashar al-Assad last December.
On Wednesday, a delegation of some 150 investors and representatives from Saudi public and private sectors, led by al-Falih, attended meetings in the capital before a business forum in the city.
On Tuesday, the Saudi Ministry of Investment had said the Damascus forum aims to “explore cooperation opportunities and sign agreements that enhance sustainable development and serve the interests of the two brotherly peoples”.
Earlier this year, Saudi Arabia and Qatar also pledged to settle Syria’s debt to the World Bank, totaling about $15m.
Earlier this month, United States President Donald Trump formalized the dismantling of US sanctions on Syria, hoping to reintegrate the country into the global economy. He had already lifted most of the measures in May, responding to appeals from Saudi Arabia and Turkiye.
Al-Sharaa, a former fighter, also visited Riyadh in February in his first trip abroad since al-Assad’s ouster.
Despite vows to unify the country, the new government has struggled to maintain order, with deadly clashes involving minority groups raising questions about Syria’s stability.
Bloody violence in Suwayda province started earlier this month with clashes between Druze fighters and Bedouin tribes, but soon escalated, with Israel later intervening with air attacks.
Last week, Israel launched several air raids in the heart of Damascus.
The attacks on the capital came amid unrest in Suwayda, where the local Bedouin tribes were engaged in fierce clashes with the Druze minority, whom Israel views as a potential ally in Syria and claims to be intervening to protect.
Damascus deployed its forces to the city and declared a ceasefire, but the fighting quickly resumed. The US then brokered an Israel-Syria ceasefire, and al-Sharaa announced a new ceasefire in southern Syria, which has held now for several days.
The Syrian government evacuated hundreds of Bedouin families trapped inside Suwayda. The first Bedouin families left on Monday on buses and trucks, accompanied by Syrian Arab Red Crescent vehicles and ambulances. They were taken to nearby Deraa.
Last month, Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Al Saud had said that the kingdom and Qatar will offer joint financial support to state employees in Syria. His statements came during a joint press conference with his Syrian counterpart Asaad al-Shibani in Damascus.
The two Gulf nations have been among the most important regional supporters of Syria’s new authorities, who ousted longtime ruler Bashar al-Assad in December after nearly 14 years of war.
Saturday’s statement did not provide details on the exact amount of the support for Syria’s public sector. However, it comes after Syrian Finance Minister Mohammed Yosr Bernieh said earlier in May that Qatar was going to provide Syria with $29m per month for an initial three months to pay civilian public sector worker salaries. (Int’l Monitoring Desk)
