Overview
- Syria and Saudi Arabia signed in Damascus a package spanning telecommunications, aviation, airport development and water projects, the largest since US sanctions were lifted in December.
- The newly launched Elaf Fund commits 7.5 billion riyals (about $2 billion) to develop two airports in Aleppo over multiple phases and is structured to draw in Saudi private-sector investors.
- The SilkLink telecoms initiative will invest nearly $1 billion to lay thousands of kilometers of cable on the Asia–Europe corridor, led by STC Group and executed in two stages over roughly 18–24 months.
- Budget carrier flynas and the Syrian Civil Aviation Authority agreed to form “flynas Syria,” a 51% Syrian and 49% flynas joint venture aiming to start operations in late 2026.
- Syria’s Energy Ministry signed accords including cooperation with ACWA Power on desalination and water supply, as analysts caution many items are still MoUs or frameworks awaiting binding contracts.