Damascus Governorate to establish holding company to fund infrastructure and housing

07/07/2014

Damascus, SANA – The Damascus Governorate council on Monday approved a project for establishing a holding company to fund infrastructure and housing projects in new zoning areas.

The company will be a private Syrian joint-stock company with the shares owned by Damascus Governorate. It will manage and invest the Governorate’s properties in new zoning areas, particularly the two ones in Damascus in southeast Mazzeh and south of the ring road.

The company will also be charged for reimbursing owners of real estate in the zoning areas, paying rents of the people who benefit from the replacement housing project, and funding infrastructure projects for the areas.

H. Sabbagh