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MENAFN - 07/03/2011

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(MENAFN) The general manager of the Syrian Real Estate Development and Investment Commission, Yasser Al Sibai, said that the country is seeking to attract developers to construct 118,000 home projects estimated to cost USD8.4 billion in the second quarter of 2011, reported Gulf News.

Al Sibai said that the investment commission is currently finalizing bids for the 12 projects.

The general director said that Syria has to build around 570,000 housing units by 2015. Almost 35 percent of the possible investors are mainly from the Gulf, with a few from Turkey and Iran.

It is worth noting that the commission, established in 2008, issued its first private developing license in August 2010.

 






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