{"id":109820,"date":"2026-06-09T00:00:00","date_gmt":"2026-06-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=109820"},"modified":"2026-06-09T03:03:51","modified_gmt":"2026-06-09T03:03:51","slug":"developers-double-down-on-syria-reconstruction-makkah-redevelopment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/06\/09\/developers-double-down-on-syria-reconstruction-makkah-redevelopment\/","title":{"rendered":"Developers double down on Syria reconstruction, Makkah redevelopment"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi capital is finding new homes in both reconstruction <\/strong><strong>and redevelopment <\/strong><strong>projects<\/strong>, as developers launch major housing schemes in Syria and take on another neighborhood regeneration project in Makkah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">A pair of projects in Syria<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/abyatproperty.com\/en\/\" style=\"\">Abyat Real Estate<\/a><\/strong><strong> launched two new developments in Damascus with combined <\/strong><strong>investments exceeding USD 2 bn<\/strong>, according to state news agency <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sana.gov\/posts\/pfbid02kPsXLdQhG9C6FhiJaofBK8ZP8j74ndeK9T4t7LmDtgXY7RUGkwMTzx6nQJ1ManZ4l?rdid=U4lUPz5ImrpFQgn9#\" style=\"\">Sana<\/a>. Apartment subscriptions are expected to open within a month, pending final approvals, General manager Mohammed Al Solum told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/realestate\/2026\/06\/08\/%D8%A7%D8%A8%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B7%D9%84%D9%82-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%8A%D9%86-%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D9%8A%D9%86-%D8%A8%D8%B1%D9%8A%D9%81-%D8%AF%D9%85%D8%B4%D9%82-%D8%A8%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%8A%D8%AA%D8%AC%D8%A7%D9%88%D8%B2-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D9%8A-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\" style=\"\">Alarabiya<\/a>. The proceeds will be held in a joint escrow account between Syria\u2019s Housing Establishment and the developer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he details:<\/strong> Abyat Hills will be built in Damascus\u2019 Qudsaya E3 suburb on a 379k sqm site and will include more than 2k residential units, with completion targeted within four years. The larger Modern Urban Cluster project will span 6 mn sqm in the Al Bajaa area and include around 20k units over an eight-year development period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Saudi companies have been steadily expanding into Syria since the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/18411345-7979-4883-9f07-013d3b363d4b\/saudi-companies-sign-sar-bns-in-agreements-with-syria%25e2%2580%2599s-businesses\" style=\"\">Saudi-Syrian<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/18411345-7979-4883-9f07-013d3b363d4b\/saudi-companies-sign-sar-bns-in-agreements-with-syria%25e2%2580%2599s-businesses\" style=\"\">Investment Forum<\/a> in July 2025, which saw SAR 24 bn in agreements signed, including SAR 7.2 bn in real estate. Momentum has continued since then, with around USD 6.4 bn worth of agreements moving forward in an investment roundtable in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/b7d617aa-2ea7-4f80-a243-d423cdc64dfe\/this-morning:-saudi-syrian-agreements-worth-usd-6.4-bn-move-into-execution\" style=\"\">October<\/a> across real estate, infrastructure, energy, and telecoms. Saudi firms have also taken on a diverse pipeline of projects tied to Syria\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/02\/08\/saudi-arabia-takes-the-lead-in-syrias-multi-sector-reconstruction\/\" style=\"\">reconstruction<\/a>, pledging to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/11\/02\/saudi-arabia-to-drive-usd-bns-into-syrias-infrastructure-in-the-next-five-years\/\" style=\"\">drive<\/a> bns of USD into the country over the next five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our take:<\/strong> This is part of Riyadh\u2019s new regional playbook. Rather than writing aid checks, the Kingdom is deploying Saudi companies into strategic sectors to secure an early commercial foothold in Syria while building long-term political and economic influence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">One more for Makkah\u2019s redevelopment pipeline<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AlRajhi <\/strong><strong>takes on another Makkah redevelopment project:<\/strong> <a target=\"_blank\" href=\"https:\/\/aur.com.sa\/english\/homepage-en\/\" style=\"\">AlRajhi United Real Est<\/a><a target=\"_blank\" href=\"https:\/\/aur.com.sa\/english\/homepage-en\/\" style=\"\">ate<\/a> is partnering with <a target=\"_blank\" href=\"http:\/\/www.maad.com.sa\/enindex.php?\" style=\"\">Maad International<\/a> to redevelop Makkah\u2019s Jarham South district, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/alrajhiunited_aeuaezaevaetabraepaesaeuaeuaewaeqaeyaer-aepaesaelaevaeyaepaejabraepaesaetaefaewaezaer-activity-7469639084039168000-H5dr?utm_source=social_share_send&utm_medium=member_desktop_web&rcm=ACoAABZYz7IB-tUUZq55rsfnnFKCaVfhEg-JGuM\" style=\"\">post on LinkedIn<\/a>. The development will cover more than 628k sqm and involve investments exceeding SAR 3.5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The project falls under the Royal Commission for Makkah City\u2019s (RCMC) Developed Districts Program (DDP) and will be financed through a real estate investment fund managed by a yet-to-be-named, CMA-licensed financial institution, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1910770\" style=\"\">Argaam<\/a> reports. The redevelopment will include roads, water and sewage networks, electricity infrastructure, and telecommunications services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I<\/strong><strong>CYMI- <\/strong>AlRajhi is already involved in another <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/06\/02\/makkah-awards-sar-13-3-bn-development-contracts\/\" style=\"\">Makkah redevelopment scheme<\/a> through its partnership with Umm Al Qura for Development and Construction (Masar). That project covers the Hindawiya West and South sites, spans 1.2 mn sqm, and carries an initial estimated cost of SAR 6 bn. It is being executed through a closed-ended real estate fund and will extend the Masar destination through new infrastructure development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The development pushes the DDP\u2019s portfolio to over SAR 16.8 bn<\/strong>, after the RCMC rolled out SAR 13.3 bn worth of projects last week. They included Ladun and Al Ayuni\u2019s Khalidiyah SAR 6 bn informal settlement redevelopment project and Dar Al Majd and First Avenue\u2019s SAR 2 bn East Hindawiya development. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abyat rolls out USD 2 bn worth of developments in Syria, and AlRajhi launches another mega development in Makkah<\/p>\n","protected":false},"author":1,"featured_media":109821,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2574],"tags":[5030,10,3459,106,1722],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-109820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-abyat-real-estate","tag-enterpriseam-ksa","tag-makkah","tag-real-estate","tag-syria","wpautop","entry"],"acf":{"mongo_id":"96518da0-411b-4749-b785-dbbac0af276e","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/6\/545.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Syria rebuild, Makkah redevelopment","related_issue":[109815],"teaser":"Abyat rolls out USD 2 bn worth of developments in Syria, and AlRajhi launches another mega development in Makkah"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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