5 days ago
Syria signs $4bn deal with Qatar-backed consortium to rebuild Damascus Airport as regional aviation hub with 90,000 jobs
The Syrian government has signed a $4bn memorandum of understanding with an international consortium led by Qatar's UCC Holding to redevelop Damascus International Airport into one of the region's most advanced aviation hubs.
The agreement, signed under the patronage of President Ahmad Al Sharaa and with the support of the Qatari government, represents one of the largest foreign investments in Syria in decades and a cornerstone of the country's post-conflict reconstruction and economic recovery strategy.
The international consortium includes UCC Concessions Investments (Qatar), Assets Investments USA (USA), and Turkish giants Cengiz İnşaat, Kalyon İnşaat, and TAV Tepe Akfen.
Qatar-backed consortium to develop Damascus Airport in Syria
The deal was signed in Damascus in the presence of senior Syrian officials, diplomats, and US Special Envoy Tom Barrack.
The project will be delivered in five Build–Operate–Transfer (BOT) phases, aiming to increase the airport's capacity to:
6m passengers in the first year
16m by the second phase
31m annually at full completion
The upgraded airport will feature 32 modern gates, advanced air navigation systems, and a world-class duty-free zone with luxury retail and dining. It will adhere to ICAO and IATA standards, positioning it among the most advanced aviation facilities in the Middle East.
The project will include:
Up to 50km of new access roads
$250m financing to acquire 10 Airbus A320 aircraft for Syrian Airlines
Creation of more than 90,000 direct and indirect jobs
A massive boost to trade, tourism, and local supply chains
Mohammad Moataz Al-Khayyat, Chairman of UCC Holding, said the project showcases the strength of international cooperation. He 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'.
Mr. Ramez Al-Khayyat, UCC President and Group CEO, added: 'This project is not just about redeveloping Damascus International Airport; it is a strategic bridge carrying Syria toward a future of recovery and prosperity.
'We are investing in a sustainable development vision that enhances trade and tourism, connects Syria to the world at the highest standards, and stimulates economic growth and investment across all sectors.
'Leveraging Syria's strategic location and our extensive local and regional partnerships, Damascus International Airport will become a model for advanced, smart transportation projects in the region.'
The consortium's track record includes some of the world's most significant aviation projects, such as:
Hamad International Airport (Qatar)
Istanbul New Airport (Turkey) – the world's largest
Prince Mohammad bin Abdulaziz International Airport (Saudi Arabia)
Tripoli Airport (Libya)
Cairo International Airport Terminal 3 (Egypt)
Sani Şener, Chairman of TAV, highlighted the economic significance: '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.
'We bring to this investment our accumulated expertise in developing and operating major transportation projects to deliver a world-class airport that enhances the efficiency of the aviation sector, boosts the attractiveness of the Syrian market to global capital, and paves the way for a new era of growth and stability.'
