Speculation already ongoing in Damascus

    The Governorate of Damascus is wasting little time in appropriating the drained peripheries of Damascus in the maps of real estate investment. In February 2013, the Governorate approved six detailed masterplans in an early bid to reshape the city’s features despite the fact that the city’s anticipated destruction had not been
2015-03-29

Ayman Al-Shoufi

Syrian Journalist


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    The Governorate of Damascus is wasting little time in appropriating the drained peripheries of Damascus in the maps of real estate investment. In February 2013, the Governorate approved six detailed masterplans in an early bid to reshape the city’s features despite the fact that the city’s anticipated destruction had not been completed. 
The Governorate has also set up a new plan to modify the architecture of the area behind the customs office. The plan would transform the area into a development hub for real estate investment full of hotels and multi-functional facilities.

This is the same land the Syrian authorities intended to award to Qatar’s Diar corporation in 2008 for the purpose of establishing the capital’s new trade center on a territory covering 550 dunums. Another plan aims at transforming the area near al-Zabaltani from a center for craftsmen into a tourist destination rather than a residential area.
The additional plans approved the Governorate targeted the regulation of the following districts: Al-Muhajireen, Barzeh, Eastern Dummar, and New Mazzeh.
The key players in these real estate investment projects have not been chosen yet and the decision might be postponed until the military battles die down.

 

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