By 2026, companies and funds from Qatar, the UAE, Saudi Arabia, Turkey, the United States, Italy and Kuwait had announced or signed investment agreements in Syria. The most prominent include the development of Tartus Port with DP World, the expansion of Damascus Airport with UCC Holding, $7 billion worth of power plants, and Saudi telecoms and aviation projects. However, a large share of these are memoranda of understanding that have not yet become binding contracts.
This article provides a verified overview of the main global companies and foreign investments in Syria in 2026, as reported by official sources and international media, with dates and sectors. It then explains what these deals mean for new investors, the practical steps for entering the market, and the risks that should be assessed realistically. We have included only deals that could be verified from published sources.
Which major global companies have signed investments in Syria since 2025?
The wave of major agreements began in spring and summer 2025 after Western sanctions were eased, and continued throughout 2026. The announced deals are concentrated in infrastructure, energy, ports, aviation, telecoms and real estate. The table below summarizes the main deals that could be verified:
| Date | Company / Entity | Country | Sector | Announced value | Type of agreement |
|---|---|---|---|---|---|
| 29 May 2025 | Consortium led by UCC Holding with Kalyon, Cengiz Enerji and Power International USA | Qatar, Turkey, United States | Power generation | $7 billion | Described as an MoU |
| 13 July 2025 | DP World | UAE | Ports (Tartus) | $800 million | 30-year BOT concession |
| July 2025 | Syrian-Saudi Investment Forum (47 agreements) | Saudi Arabia | Multi-sector | About $6.4 billion | Agreements and partnerships |
| 6 August 2025 | UCC Holding | Qatar | Damascus International Airport | $4 billion | Part of a 12-project package |
| 6 August 2025 | An Emirati national investment corporation | UAE | Damascus Metro | $2 billion | Part of the same package |
| 6 August 2025 | UBAKO | Italy | Real estate (Damascus Towers) | $2 billion | Part of the same package |
| 4 February 2026 | Chevron with Power International Holding | United States, Qatar | Offshore oil and gas | Not disclosed | Memorandum of understanding |
| 7 February 2026 | Elaf fund, flynas, stc, ACWA Power | Saudi Arabia | Airports, aviation, telecoms, water | About $2 billion for airports and about $1 billion for telecoms | Package of agreements |
| Mid-2026 | Zain Group | Kuwait | Mobile telecoms | $747 million licence fee and investment exceeding $1.5 billion | 20-year operating licence, extendable by 5 years |
Note that the figures shown are the values announced at signing, not amounts actually spent. Many of these projects will be implemented over years or even decades.
What investments have been announced in energy and oil?
Energy is the sector most attractive to large investors, because electricity shortages have been one of the biggest obstacles to recovery. On 29 May 2025, at the People’s Palace in Damascus, the Syrian government signed a $7 billion agreement with a consortium led by Qatar’s UCC Holding, which includes the Turkish companies Kalyon GES and Cengiz Enerji and the US company Power International USA. The agreement targets around 5,000 megawatts of generation through four gas-fired plants in central and eastern Syria, plus a 1,000-megawatt solar plant in the south. Some reports described the signing as a memorandum of understanding, meaning the final commitment depends on detailed contracts and financing.
On 4 February 2026, the Syrian Petroleum Company signed a memorandum of understanding with US company Chevron and Qatar’s Power International Holding to explore and develop oil and gas in Syrian territorial waters, the country’s first formal step towards offshore exploration. The Syrian Petroleum Company’s CEO said that reaching gas reserves could take up to four years, and no financial value was disclosed for the agreement.
Also in February 2026, the Ministry of Energy signed a water agreement with Saudi company ACWA Power, which specializes in power generation and desalination. For a detailed look at opportunities in this sector, see investing in oil and renewable energy in Syria.
Who is investing in Syria’s ports and airports?
Tartus Port
On 13 July 2025, DP World signed a concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate Tartus Port for 30 years, with an announced investment of $800 million over the concession period under a build-operate-transfer (BOT) model.
Damascus International Airport
As part of a package announced by the Syrian Investment Authority on 6 August 2025, covering 12 projects with a total value of nearly $14 billion, around $4 billion was allocated to the Damascus Airport project with Qatar’s UCC Holding. The deals were announced by the Authority’s head, Talal al-Hilali, in the presence of President Ahmed al-Sharaa and US envoy Tom Barrack.
Aleppo airports and flynas Syria
On 7 February 2026, Saudi Investment Minister Khalid al-Falih announced that the new Elaf fund would allocate about $2 billion (SAR 7.5 billion) to developing two airports in Aleppo. Saudi carrier flynas agreed with Syria’s General Civil Aviation Authority to establish a low-cost airline called “flynas Syria”, 51% owned by the Syrian side, which is scheduled to begin operations in the last quarter of 2026, according to the announcement.
What has changed in telecoms and the internet?
The telecoms sector saw two major shifts in 2026:
- SilkLink project: Announced on 7 February 2026 and led by Saudi Arabia’s stc Group, with investments of nearly $1 billion according to Communications Minister Abdulsalam Haykal. It includes thousands of kilometres of cable to strengthen connectivity between Asia and Europe.
- Zain mobile licence: In mid-2026, Kuwait’s Zain Group obtained a licence to operate the existing mobile network for $747 million for 20 years, extendable by five years. Zain owns 75% of the operating entity, with 25% held by a Syrian government entity. The group plans to invest more than $1.5 billion, and “Zain Syria” is expected to launch in the first quarter of 2027, subject to regulatory conditions.
- Impact on investors: Better digital infrastructure benefits services, e-commerce and distance learning, but the announced timelines are subject to change.
What investments have been announced in real estate and construction?
Real estate was a clear part of the August 2025 package. It included the $2 billion “Damascus Towers” project with Italian company UBAKO, the $500 million “Baramkeh Towers” project, and a $60 million “Baramkeh Mall” agreement, as well as the $2 billion Damascus Metro project with an Emirati national investment corporation. Available reports did not name the companies implementing the two Baramkeh projects.
The agreements of the Syrian-Saudi Investment Forum in July 2025 (47 agreements worth about $6.4 billion) also covered real estate, infrastructure, industry, tourism, healthcare and finance. Anyone considering this sector needs to verify land ownership and permits carefully; for more details, see investing in construction and real estate in Syria.
What legal framework governs foreign investment in Syria in 2026?
In July 2025, President Ahmed al-Sharaa issued Decree No. 114 of 2025 amending Investment Law No. 18 of 2021. According to the official SANA news agency, its main provisions include:
- Allowing 100% foreign ownership of projects and removing the requirement for a local partner.
- Allowing profits and capital to be transferred abroad in accordance with applicable regulations.
- Full tax and customs exemptions for agriculture and healthcare projects.
- Tax reductions of up to 80% for export-oriented industrial projects.
- The option to employ foreign workers for up to 40% of staff to fill technical and managerial skill gaps.
These incentives matter most for the exempt sectors, such as investing in the healthcare sector and investing in the agricultural sector. Even so, actual implementation and the executive regulations remain decisive factors that should be checked for each project individually.
What is the status of international sanctions on Syria in 2026?
In December 2025, US President Donald Trump signed the National Defense Authorization Act for fiscal year 2026, which included the repeal of the “Caesar Act”. According to The National, the repeal involves a US review of the situation in Syria every 180 days for four years, covering the fight against ISIS, the removal of foreign fighters from government posts and the protection of minority rights, and Washington can impose sanctions on individuals if it considers that Damascus has gone off track. The report also noted that the US Treasury removed Syria from its list of sanctions programmes in August 2025.
In practice, this means the legal environment is more open than at any time since 2011, but it is not free of conditions. Sanctions remain on specific individuals and entities, and compliance screening of local partners and sources of funds is still essential before any transfer or partnership.
What do these deals mean for new investors?
The entry of companies the size of Chevron, DP World, Zain and stc carries several practical implications:
- A relative signal of confidence: The presence of global companies subject to strict compliance standards indicates that the legal framework and sanctions now permit business, but it does not guarantee the success of any other project.
- Supply-chain opportunities: Major projects need local contractors, building-material suppliers, transport and logistics, accommodation and catering services, and maintenance—opportunities better suited to small and mid-sized investors.
- Gradual infrastructure improvement: Once completed, electricity, ports and telecoms will lower operating costs for factories and commercial projects.
- Rising competition: The entry of large Gulf and international capital is pushing up prices in some real-estate locations and increasing competition for land and permits.
For project ideas suited to different investment sizes, see suggested investment projects in Syria.
What are the risks and practical steps for new investors?
Risks to factor in
Announced figures should be treated with caution. Al Jazeera quoted analyst Benjamin Feve of the consultancy Karam Shaar Advisory as saying that the Saudi deals of February 2026 are closer to a “political signal” than a short-term economic transformation. It also noted criticism of the government for announcing development promises based on written pledges, many of which have not become binding contracts. The United Nations estimates the cost of reconstruction at more than $400 billion, meaning needs far exceed what has been announced so far.
The main risks include:
- Execution risk: Memoranda of understanding are not final contracts, and timelines may slip.
- Security and regional risk: Sporadic security incidents still occur in some areas, and regional tensions in 2026 have affected the region as a whole.
- Compliance risk: The possibility of sanctions on specific individuals requires due diligence on the identity of partners.
- Ownership and documentation risk: Especially in real estate, where title deeds require careful verification.
- Financial-system risk: The banking sector is still being modernized, which may affect the speed of transfers.
What are the practical steps to enter the Syrian market in 2026?
- Define the sector and investment size: Compare tax-exempt sectors (healthcare and agriculture) with high-demand sectors (construction, energy, services).
- Carry out a realistic feasibility study: Estimate costs, demand, exchange rates and energy sources instead of relying on general figures.
- Legal and compliance checks: Verify partners, suppliers, sanctions lists and property ownership.
- Choose the legal structure and register: Register the company and obtain a licence through the Syrian Investment Authority or the competent authorities.
- Arrange financing and transfers: Identify reliable banking channels to transfer capital and profits in line with regulations.
- Choose the location and implement in phases: Start with a pilot phase before expanding, especially in sectors linked to major projects.
How can Syria Gateway help you?
Syria Gateway is an investment consultancy based in Damascus and Aleppo that supports foreign investors and Syrians abroad through the different stages of market entry. Our services include:
- Company registration and licensing.
- Legal and tax advice.
- Assistance with visa and residency procedures.
- Site selection and feasibility studies.
- A free initial consultation to assess your investment idea.
We do not promise specific returns; instead, we help you make decisions based on verified information and correct procedures. You can request a consultation via our contact page.
Frequently asked questions
What is the largest announced foreign investment in Syria as of 2026?
Among the largest announced deals are the $7 billion energy agreement with a consortium led by Qatar’s UCC Holding in May 2025, and the $4 billion Damascus Airport project with the same company in August 2025.
Can a foreigner own 100% of a project in Syria?
Yes. Under Decree No. 114 of 2025 amending the Investment Law, full foreign ownership of projects is permitted without a local partner, provided that the regulations and licences specific to each sector are respected.
Have US sanctions on Syria been fully lifted?
The Caesar Act was repealed in December 2025, but the repeal is tied to periodic reviews every 180 days, and sanctions can still be imposed on individuals. Compliance screening therefore remains essential.
Which countries are investing most in Syria?
Based on announced deals, Saudi Arabia, Qatar and the UAE lead, alongside companies from Turkey, the United States, Italy and Kuwait.
Are all announced agreements final contracts?
No. Several major agreements have been described as memoranda of understanding, such as the Chevron offshore exploration deal, and no financial values were disclosed for some of them. It is therefore important to distinguish between an announcement and actual implementation.
Which sectors enjoy full tax exemptions?
According to SANA’s reporting on Decree 114, agriculture and healthcare projects enjoy full exemptions, while export-oriented industrial projects receive reductions of up to 80%.
If you are considering entering the Syrian market and want a realistic assessment of your opportunity and its risks, contact the Syria Gateway team by phone at +90 553 406 0015 or by email at info@syriangateway.com to book a free initial consultation.
Sources
- Al Arabiya English – Signing of a $7 billion power deal (29 May 2025)
- DP World – Developing Tartus Port under a 30-year concession (13 July 2025)
- Al Jazeera English – Syria signs $14 billion in infrastructure deals (6 August 2025)
- The National – Repeal of the Caesar Act (December 2025)
- Associated Press via CP24 – Chevron offshore exploration deal (4 February 2026)
- Al Jazeera English – Multi-billion-dollar Syrian-Saudi deals (7 February 2026)
- SANA – Provisions of Decree 114 of 2025 (March 2026)
- AGBI – Zain to invest $1.5 billion in Syria’s mobile network (July 2026)
