Syria signs US$4bn airport deal with Qatari consortium

Syria has signed a memorandum of understanding with a Qatar-led consortium to redevelop and expand Damascus International Airport.

Valued at more than US$4bn, the agreement marks one of the largest foreign investments in Syria’s infrastructure in decades.

The five-company consortium is headed by Qatar’s UCC Holding and includes Assets Investments USA LLC (United States), as well as Turkish firms Cengiz İnşaat, Kalyon İnşaat, and TAV Tepe Akfen.

The partners will carry out the airport project under a build-operate-transfer model over five phases, ultimately targeting an annual capacity of 31 million passengers.

The signing ceremony was held in Damascus in the presence of Mr. Tom Barrack, the U.S. Special Envoy to Syria, Qatari Embassy officials, senior government representatives, and other diplomats.

The project aims to enhance Syria'a global connectivity and revitalise the nation’s economy, trade, and tourism sectors, according to UCC. 

FDIs

Construction will proceed in stages, with capacity to reach 6 million passengers in the first year and 16 million by the second phase, ultimately scaling to 31 million passengers annually.

The new facility will meet international aviation standards (ICAO and IATA), and include up to 32 gates with modern boarding bridges, a fully integrated air navigation system, and a high-end duty-free area with international retail and dining brands.

In addition to the airport itself, the project will include upgrading the 50 km road link to the site and a US$250mn investment in 10 new Airbus A320 aircraft for Syrian Airlines, aimed at revitalising the national carrier’s fleet and competitiveness.

Consortium partners bring extensive global experience in airport development and operations, having contributed to major projects such as Istanbul New Airport, Cairo International Airport Terminal 3 expansion, and airports across Turkey, Saudi Arabia, Georgia, Tunisia, North Macedonia, and beyond.

The project is expected to generate over 90,000 direct and indirect jobs, stimulating economic growth across multiple sectors and positioning Syria as a strategic aviation hub in the Middle East.

Mohammad Moutaz Al-Khayyat, chairman of UCC Holding, said, “At UCC Holding, we believe that the success of projects of this magnitude requires the integration of global expertise with a deep understanding of local market needs—a principle we aim to apply in every stage of implementation.”

Ramez Al-Khayyat, president and group CEO of UCC Holding, said, “This project is not just about redeveloping Damascus International Airport; it is a strategic bridge carrying Syria toward a future of recovery and prosperity. We are investing in a sustainable development vision that enhances trade and tourism, connects Syria to the world at the highest standards, and stimulates economic growth and investment across all sectors. Leveraging Syria’s strategic location and our extensive local and regional partnerships, Damascus International Airport will become a model for advanced, smart transportation projects in the region.”

Sani Şener, chairman of TAV, said, “We view this project as a strategic investment opportunity that goes beyond infrastructure development. It is a gateway to revitalising the Syrian economy and reintegrating it into regional and global trade and investment flows. We bring to this investment our accumulated expertise in developing and operating major transportation projects to deliver a world-class airport that enhances the efficiency of the aviation sector, boosts the attractiveness of the Syrian market to global capital, and paves the way for a new era of growth and stability.”