Saudi Arabia, Syria sign investment agreements worth nearly SAR 24B
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A high-level Saudi investment delegation, led by Minister of Investment Eng. Khalid Al-Falih concluded his visit to Syria with the signing of 47 investment agreements worth nearly SAR 24 billion. The deals were finalised during the Syrian-Saudi Investment Forum, held under the patronage of Syrian President Ahmad al-Sharaa and attended by senior officials and ministers from both countries.
The agreements span a wide range of sectors, including real estate, infrastructure, energy, healthcare, tourism, trade and information technology. The forum also featured a ministerial session where top officials from Saudi Arabia and Syria discussed strengthening economic ties.
The session included participation from Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar, Minister of Tourism Mazen Al-Salhani and Saudi-Syrian Business Council chairman Mohammad Abunayyan. They highlighted the strong historical relations between the two countries and the support extended by the Saudi leadership to facilitate Syria’s economic recovery.
One of the key announcements during the forum came from Al-Badia Cement Company, which committed over $200 million to expand its grinding and packaging lines and power generation plant. The expansion is expected to raise production capacity to more than 5 million tons annually. The company also expressed interest in partnering with the Syrian government to enhance state-run cement factories and stabilise the market.
During the visit, Minister Al-Falih met with several Syrian ministers to discuss future collaboration in support of Syria’s development goals. He also took part in field visits to Saudi-funded projects in Syria and laid the foundation stone for two major ventures. The Al-Fayhaa Cement Factory, with an estimated investment of SAR 100 million, is projected to produce 150,000 tons of cement annually.
In Damascus, construction was launched on the Al-Jawhara Commercial Tower, a joint Saudi-Syrian project with an investment exceeding SAR 375 million. The tower will house offices, retail spaces and hotel units across a built-up area of 25,000 square meters.
