The Head of the Syrian Investment Authority, Talal Al-Hilali, announced that Saudi Arabia is close to investing in a new private Syrian airline as part of a package of major investment projects valued at billions of dollars. These projects are expected to be announced next Saturday, reflecting strengthening ties between Riyadh and Damascus.

This investment package is considered the largest of its kind to enter Syria since the United States eased some of the sanctions imposed on the country last December.

Al-Hilali stated during his participation in the World Government Summit in Dubai that Saudi investments will also cover telecommunications and real estate sectors, particularly in historical areas. He noted that most of these projects will be execution-ready contracts rather than mere memorandums of understanding.

According to Reuters, Saudi Arabia announced last year investments worth $6.4 billion through 47 agreements with more than 100 Saudi companies in real estate, infrastructure, and telecommunications. The new aviation investments include contracts to develop Aleppo International Airport, with the new private Syrian airline expected to begin operations with a fleet exceeding 12 aircraft.

Saudi Arabia is also planning to provide insurance coverage for projects implemented inside Syria, aiming to encourage Saudi companies to enter the Syrian market with greater confidence.