After 14 years of conflict, capital from Gulf nations is steadily returning to Syria, with companies from Saudi Arabia and the UAE leading a multi-billion dollar push to rebuild the nation’s shattered economy. While the opportunities are vast, investors are proceeding with caution, balancing first-mover advantage against significant political and security risks in a country where reconstruction costs are estimated to be as high as $900 billion. Key players like the UAE’s DP World have already committed to significant infrastructure projects, signaling a new phase of economic engagement.
A High-Risk High-Reward Environment
Experts describe the current investment climate in Syria as one of calculated risk. Entire cities like Damascus, Aleppo, and Homs require massive rebuilding efforts, and with over two-thirds of the population living in poverty, the need for foreign investment is urgent.
“It is a high-risk, high-reward environment. Companies are visiting the country, they’re taking things slowly, but I think they are still reluctant to deploy large amounts of capital,” Rahaf Hyps, CEO at risk management firm Sicuro Group, told AGBI.
This sentiment is echoed by Rachel Ziemba, founder of Ziemba Insights, who notes that while regional interest is high, many potential investors remain in preparatory phases.
Saudi Arabia’s Strategic Commitments
Saudi Arabia has emerged as a key driver of this renewed investment wave. In July of last year, Riyadh announced $6.4 billion in investments across 47 deals, involving over 100 Saudi companies in sectors like real estate, infrastructure, and telecoms.
The Kingdom has also committed $2 billion to develop two airports in Aleppo and signed contracts worth $1.5 billion to revive the tourism sector. Further bolstering connectivity, budget airline Flynas has partnered to establish a joint Syrian-Saudi carrier. In the energy sector, Saudi firms including Taqa, Ades Holding, and Arabian Drilling Company have signed agreements to rehabilitate oil and gas assets, while Saudi Telecom Company is involved in rebuilding digital infrastructure.
UAE and Qatari Ventures Follow Suit
The UAE is also playing a pivotal role. Dubai-based port operator DP World has agreed to an $800 million deal to redevelop Tartous port, a major vote of confidence in Syria’s logistical future. Additionally, Dubai’s Al Habtoor conglomerate has announced plans to invest billions into new projects within the country.
Qatar is also contributing significantly, with a Qatari-led consortium agreeing in May 2025 to invest nearly $7 billion into Syria’s energy infrastructure.
Rebuilding from the Ground Up
The scale of the task is immense. Syria’s economy minister Mohammed Alchaar has previously stated the country’s reliance on Gulf investors to fund the reconstruction. The Syrian government is optimistic, with finance minister Mohamed Yisr Barnieh forecasting economic growth of nearly 10 percent this year, bolstered by the lifting of US sanctions.
For some companies, the return is also strategic and sentimental. Mohamed Itani, CEO of Dubai-listed United Foods Company, is planning to re-establish the Aseel ghee brand, once a market leader in Syria.
“For Syrians, Aseel is very close to their heart. It’s nostalgia,” Itani said, noting that the company is cautiously testing demand with exports while exploring options for larger-scale operations. “We’re moving as if things are going the right way.”
About DP World
DP World is a leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Its comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
Source: AGBI
