The Syrian government is planning to revive tourism projects in Damascus, which have been suspended for ten years, including the Baramkeh Towers project (Syria Towers) in central Damascus.
Meetings were held between the “Ministry of Tourism” and the Damascus Governorate to reach solutions, especially after the stage of stagnation that accompanied several tourism projects preparing for implementation before 2011.
And the assistant Syrian Minister of Tourism, Ghiath Al-Farrah, revealed that “previously faltering projects are being addressed through appendices to contracts and the granting of facilities.”
Statements to the local newspaper, Al-Watan, that the projects are currently in the contracting stage to sign and give direct order during the coming period for a number of projects of great importance.
Among these projects, the “Kfarsouseh project”, the reservation garage project near the Four Seasons, and the Baramkeh Towers project.
Meetings and Agreements
Meetings were held between government officials with investors of tourism projects (the Kafr Sousa organization project – the traffic reservation garage project – the Khan Suleiman Pasha site project – the West Souk Al-Hal organization project and the East Al-Marjah organization).
The newspaper said that during the meetings, they discussed the reality of these projects and the procedures reached for concluding annexes to contracts that would ensure re-work in them.
What tourism projects will be revived?
Hotel in Kafarsouseh organization project
The hotel project in Kafarsouseh includes the construction of an integrated five-star international hotel complex and complementary activities.
The government agreed with the investor on the provisions of the contract appendix, which includes amending the annual contractual investment allowances from 12% to 15% during the first 33 years of investment, 17% from year 34 to year 40, and 18% from year 41 to year 45.
Traffic reservation garage project
With regard to the Traffic Detention Garage project, the government agreed with the investor to adjust the annual contractual investment allowances by a percentage to become 13.25 percent during the first 30 years of investment, and 16 percent from the 31st year to the 40th year, and 18 percent from the 41st year to the 45th year.
The two parties agreed to amend the minimum investment allowance to /2.5/ billion, increasing by a percentage of 5% every 3 years. The investment period was modified to 45 years instead of 33 years, and under the same previous conditions.
Khan Suleiman Pasha site project
Regarding the Khan Suleiman Pasha site project (the Khan Restoration Project), it was agreed on the provisions of the annex to the contract to include amending the minimum investment allowance to 275 million pounds, increasing by a percentage of 5 percent every three years.
Annual investment allowances have been set at 20 percent for the entire investment years, and the investment period has been modified to become 30 years instead of 27 years.
Project “Syria Towers”
The Syria Towers project is located in the Baramkeh neighborhood in the center of the Syrian capital, Damascus. It was built on land that was designated as a bus launch center before it was transferred to the Sumeria region in order to reduce traffic congestion.
The project area is about 33,000 square meters, and each tower consists of 62 floors, and the estimated project completion period was 6 years, and its cost was then estimated at 15 billion Syrian pounds.
And the “Damascus Governorate” announced last January that it was re-offering for investment according to the “BOT” system, after more than 10 years of stopping the project.
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