Two Saudi agreements accounted for a fifth of the USD 1.8 bn signed at Syria’s Imar

The largest contracts signed at Syria’s second reconstruction expo went to Saudi companies, with the money channeled primarily towards roads, cement, and water. Saudi Arabia’s Al Rawaf Contracting signed a USD 300 mn roads and infrastructure contract at Imar 2026 in Damascus, marking the single biggest agreement at the expo, SANA reports. Al Hassan Holding Group also signed cement supply contracts worth USD 72 mn with Saudi-listed Jouf Cement.

These two contracts alone account for about a fifth of the headline total of USD 1.8 bn-worth of agreements signed at the four-day event. Beyond the few large agreements, the fair mostly saw smaller supply agreements.

Also from the fair: Advanced Technical Systems signed a USD 15 mn contract for water purification and pumping statements. Thara Real Estate Development also signed supply contracts for infrastructure, building materials, and finishing for its Sham View residential project in Damascus.

Separately, Gulf players are also lining up around Syria’s aviation infrastructure. The UAE’s Dnata is pushing for an exclusive contract to manage and operate services at Damascus International Airport, Al Bayan reports, citing CEO Nabil Sultan. The UAE-based aviation services provider has sent a delegation to Damascus to discuss potential investments and an operating model with Syrian officials.

Meanwhile, Saudi- backed upgrades to Aleppo International Airport will begin in early 2027, lifting the existing airport’s annual capacity past 2 mn passengers in phase one, according to Syrian state news agency SANA. The development is being advanced through the Elaf Investment Fund, led by BinDawood Investment Company, as part of a broader Saudi investment commitment of SAR 7.5 bn to develop two airports in the Syrian city.

Background: The Damascus airport is already in for a major overhaul, as a Qatar-led consortium under UCC Holding signed final concession agreements last November covering the development, expansion, and operation of Damascus International Airport. The USD 4 bn project aims to increase capacity to 31 mn passengers annually. Saudi’s planned investments in Syria span railways, a new joint airline, postal services, telecoms, desalination, and more.