AGP Executive Report

Finance Ties: Qatar’s finance minister met his Syrian counterpart in Bangkok to discuss economic cooperation, while Doha called for coordination between the World Bank and Gulf donors to support Syria’s reconstruction. Energy: Two pipeline incidents, including a fire on a gas export line in northeastern Syria, put energy infrastructure under fresh pressure. Investment: Emaar’s chairman outlined plans for up to $17 billion in Syrian property investment, while DP World is accelerating development of Tartous port. Trade and Recovery: Syria has resumed outbound international parcels for the first time in more than a decade and is set to rejoin the IMF’s Arab Group on November 1. Damascus has also discussed expanded recovery support with the World Bank.

Port Investment: DP World is targeting capacity of 204,000 containers at Tartous by year-end under its 30-year concession, backed by an $800 million investment plan. Property: Emaar has unveiled plans to invest more than $16 billion in Syria, signaling growing Gulf interest in the country’s reconstruction. Energy Infrastructure: Attacks have damaged gas and petroleum pipelines, causing fires and leaks and adding pressure to Syria’s energy system. Trade and Finance: Syria has sent its first international parcels in over a decade and is set to rejoin the IMF’s Arab Group on November 1.

Energy Infrastructure: Two pipeline incidents disrupted Syria’s energy network: an explosion set the Jbessa gas export line ablaze in Hasakah, while suspected fuel theft damaged the Baniyas–Homs products pipeline, causing a gasoline spill. Repairs are under way, with alternative gas supplies planned for power stations. Trade Links: Syria has resumed outbound international parcel shipments for the first time in more than a decade, sending an initial batch to five countries. Investment: Emaar founder Mohamed Alabbar says the company plans to invest about $17 billion in Syria, describing the opportunity as commercially compelling. Financial Recovery: Syria is due to rejoin the IMF’s Arab Group on November 1 and has discussed expanding World Bank support for economic recovery.

Energy Infrastructure: Attacks set fire to a gas export pipeline in Hasakah, while a leak on the Baniyas–Homs petroleum line caused a major fuel spill and closed a key road. Crews isolated both sites and began containment or repairs. Trade Links: Syria sent its first outbound international parcels in more than a decade, shipping to five countries as it restores postal connections. Investment: UAE developer Eagle Hills has outlined property investment plans of up to $17 billion, a major potential boost to reconstruction. Finance: Syria will rejoin the IMF’s Arab Group on November 1, with talks covering technical support and future economic consultations; Damascus also discussed expanding World Bank support for recovery. Energy Connectivity: Türkiye is in talks with Saudi Arabia, Jordan and Syria on a major power link, while regional gas projects could connect Syria to Azerbaijani supplies and Qatari investment.

Investment: Emaar chief Mohamed Alabbar says plans for real estate and tourism projects in Syria could total $16–17 billion, subject to feasibility and development needs. Energy Links: Türkiye is discussing a major electricity transmission line with Saudi Arabia, Jordan and Syria, potentially connecting regional power markets. Syria has also restored a formal banking channel for Saudi oil imports and issued its first letter of credit for an Aramco deal. Recovery Finance: Syria and the World Bank discussed expanding financial support for economic recovery, while the Netherlands allocated €15 million for recovery efforts. Startups: Syrian home-maintenance platform Salehli raised $100,000 to expand its services.

Major Investment: UAE developer Eagle Hills plans to invest $16–17 billion in projects in Damascus and Latakia, according to its chairman. Regional Business: Saudi energy-services firm TAQA is establishing operations in Syria as it expands abroad. Startups: Home-maintenance platform Salehli raised $100,000 from EBLA Ventures to add electronic payments, grow its business-to-business services and enter more Syrian cities; healthtech startup Alo Hakeem also secured $165,000 in pre-seed funding. Recovery Finance: Syria and the World Bank discussed expanding financial support for economic recovery. Energy Trade: Syria has restored a formal banking channel for Saudi oil imports, while 15 fuel tankers await entry at its ports. Property and Industry: Property protests and growing interest in land over factories are fueling calls for a national strategy to steer investment toward productive activity.

Recovery Finance: Syria and the World Bank discussed expanding support for reconstruction, with officials citing $493 million in grants already received for electricity, health, water, education and public finance. They also discussed opening a World Bank office in Damascus in January 2027. Energy Trade: Damascus is bringing in Saudi and US oil products to ease shortages and price pressures. The central bank issued a letter of credit for a Saudi supply deal, restoring formal banking channels for oil imports. Business Investment: Syrian startups are drawing early funding: healthtech firm Alo Hakeem raised $165,000, while Salehli secured $100,000 in pre-seed financing. Regional Ties: Syria and the UAE agreed to financial cooperation between their central banks, while UAE developer Eagle Hills announced projects in Damascus and Latakia.

Banking & Energy: Syria has opened its first U.S. bank letter of credit in 14 years to finance Saudi oil imports, restoring a formal banking channel for the deal. Regional Business Ties: A Syrian foreign ministry adviser said cooperation with Iraqi Kurdistan could deepen Damascus-Baghdad ties, support refugee returns and bring reconstruction expertise and investment. Investment: UAE developer Eagle Hills has launched projects in Damascus and Latakia, while two Syrian startups attracted early funding: healthtech firm Alo Hakeem raised $165,000 and Salehli secured $100,000. Reconstruction: At the UN Security Council, officials warned that economic strain and limited financing threaten Syria’s transition, as the estimated cost of rebuilding damaged assets reaches $216 billion. Energy Links: Türkiye is discussing a four-country electricity connection involving Syria, while 15 fuel tankers await entry at Syrian ports.

Banking and Energy: Syria has opened its first formal banking channel for petroleum imports in 14 years, issuing a letter of credit for a Saudi Aramco deal involving the Central Bank, Syrian Petroleum Company and an unnamed US bank. The transaction could help finance other strategic imports, though it does not signal a full return to international banking. Investment: UAE developer Eagle Hills has launched projects in Damascus and Latakia, adding to signs of renewed interest in Syria’s property market. Startups: Syrian healthtech company Alo Hakeem raised $165,000 in pre-seed funding, led by EBLA Ventures. Oil Transit: Iraq plans to complete talks by year-end on transporting crude through Syria, which is also positioning itself as an alternative route for Iraqi exports.

Energy Links: Türkiye says it is discussing a major electricity interconnection with Saudi Arabia, Jordan and Syria, while Syria has opened its first U.S. bank letter of credit in 14 years to finance oil imports under a Saudi Aramco deal. Investment: UAE developer Eagle Hills is moving ahead with residential and tourism projects in Damascus and Latakia, with preparatory work expected to begin soon. Startups: Aleppo-based healthtech company Alo Hakeem raised $165,000 in pre-seed funding to build its platform and expand home-care services. Trade and Finance: Syria and the UAE have agreed to strengthen central-bank cooperation, as Iraq explores routes through Syria for crude exports. Recent gas-line attacks, meanwhile, highlight the risks to energy infrastructure and investor plans.

Trade Finance: Syria’s central bank issued its first letter of credit in 14 years to support a Syrian Petroleum Company deal to import petroleum products from Saudi Aramco. Coordinated with a major US bank, the transaction offers a formal channel for financing imports and settling payments. Energy Links: Iraq and Syria are working on a pipeline route for Iraqi crude, with negotiations expected to conclude by year-end, potentially giving exports an alternative to the Strait of Hormuz. Investment and Tourism: UAE developer Eagle Hills has launched projects in Syria, hotel groups are eyeing the market, and Etihad has increased Damascus flights to daily. Meanwhile, questions over transparency surround Syria’s proposed $50 billion sovereign fund.

Energy Corridors: Iraq expects to complete talks by year-end with a US-Qatari consortium on a pipeline linking Haditha to Syria’s Mediterranean port of Baniyas, potentially creating a major oil-export route. Recent sabotage of Syrian gas lines highlights the security risks facing energy infrastructure and investors. Cross-Border Trade: Jordan has reopened prequalification for a public-private partnership to upgrade the Jaber crossing, a key route for freight and travel between Jordan and Syria. Investment and Finance: The UAE and Syrian central banks have agreed to strengthen financial cooperation, while UAE developer Eagle Hills is pursuing projects in Syria and hotel groups are eyeing its tourism market. Etihad has also increased Damascus service to daily flights. Startups: Syrian health-tech company Alo Hakeem raised $165,000 in pre-seed funding a year after its launch.

Finance & Air Links: Syria and the UAE signed a central-bank cooperation agreement, while Etihad increased its Damascus service to daily as demand grows. Energy & Trade: Iraq is seeking to route crude exports through Syria as a Hormuz bypass, a plan that could revive regional trade links; sabotage damage to a Hasakah pipeline remains a threat to Syria’s energy ambitions. Investment: Saudi Arabia is preparing new pathways for its companies to enter the Syrian market, alongside reconstruction talks with Damascus. Hotel groups are also eyeing Syria’s tourism revival, while questions over transparency at the country’s proposed $50 billion sovereign fund may weigh on investor confidence.

Air Links: Etihad will raise Abu Dhabi–Damascus flights from four a week to daily from Nov. 14, citing strong demand from families and business travellers. Banking: The UAE and Syrian central banks have agreed to cooperate on payments, fintech, supervision and financial inclusion, aiming to strengthen Syria’s financial infrastructure. Investment: Saudi Arabia is preparing new routes for its companies to enter the Syrian market, while Damascus and Riyadh have advanced reconstruction and investment talks. Energy and Trade: Iraq is seeking to route crude exports through Syria to the Mediterranean, with a proposed pipeline potentially moving to construction in early 2027. The route could offer Iraq an alternative export corridor, though attacks on Syrian pipelines pose a risk. Tourism: International hotel groups are targeting Syria as it seeks to attract overseas visitors and rebuild the sector. Public Finances: Syria’s proposed $50 billion sovereign fund is facing questions over transparency, as a World Bank report estimates that poverty remains widespread, with around one in five Syrians living below $3 a day.

Oil Trade: Iraq expects to begin trucking crude through Syria to the Mediterranean by mid-October, using a route around disruption in the Strait of Hormuz. Damascus says the agreement is nearly complete, building on earlier fuel shipments through Syria. Sovereign Fund: Syria’s state fund is valued at $50 billion and holds businesses, property and bank stakes, but has not published a full list of assets or accounts—raising questions about transparency as it courts foreign investors. Investment & Tourism: UAE developer Eagle Hills has signed a framework for residential and tourism projects, while hotel groups are eyeing Syria’s recovery. A Latakia project is expected to create 40,000 jobs. Air Links: Etihad has increased Damascus service to daily flights as demand grows, a boost to connectivity and hopes for a tourism revival.

Oil Exports: Iraq expects to start trucking crude through Syria to the Mediterranean by mid-October, creating a route around Strait of Hormuz disruptions. Energy Infrastructure: Syria arrested suspects after sabotage damaged a pipeline in the northeast, underscoring risks to the country’s energy network. Investment: Abu Dhabi’s Eagle Hills has agreed to develop residential and tourism communities in Syria; its Latakia project is expected to create 40,000 jobs. Çimko also signed a $200 million deal to redevelop an Aleppo cement plant. Finance: The Syrian and UAE central banks signed an agreement covering payments and fintech. Tourism: Hotel groups are eyeing Syria’s recovery, while Etihad has increased Damascus service to daily flights.