First Published: 2005-12-20

 
Syria unveils 15 billion dollar tourism project
 

Project, to be built on mount Hermon, will include hotels, shopping centres, skiing other sports facilities.

 

Middle East Online

The project is expected to be carried out over the next 15 years

DAMASCUS - Syria has unveiled plans for a 15-billion-dollar tourist resort to be built on Mount Hermon, overlooking the Israeli-occupied Golan Heights and Lebanon, the press quoted an official Tuesday as saying.

The project, to include hotels, shopping centres, skiing and other sports facilities reachable by cable car, is to be developed by an unspecified group of Syrian, Kuwaiti and Saudi investors, said Mustapha Kafri, director of the country's investment authority.

The government has given its tentative go-ahead on the project, which is expected to be carried out over the next 15 years.

Mount Hermon is 2,814 metres (9,232 feet) high, and is the largest mountain in either Syria or Israel. The southern and western slopes of the mountain were captured by the Jewish state during the 1967 Arab-Israeli war.

Kafri characterised 2005 as the "year of investment" in Syria. Some 70 projects presented by Syrian investors, worth 1.6 billion dollars, were approved by the state's Superior Investment Council in September.

Economists estimate that eight to nine billion dollars in investment is needed each year to produce a seven percent gross domestic product growth rate in Syria, compared to around four percent currently.

 

Senior Saudi prince blasts Trump's "opportunistic" Jerusalem move

Kuwait ruler’s son named defence minister

Israel PM faces renewed pressure in Europe

Bahraini civil society group criticised after Israel visit

Saudi Arabia lifts decades-long ban on cinemas

EU says Syria war ‘ongoing’ despite Russia pullout

Istanbul nightclub gunman refuses to testify

Integrating Syrians in Turkey carries implications

US opinion views Muslims and Arabs more favourably but political affiliation makes a difference

Iranian conservative protesters say Trump hastening end of Israel

Jordan referred to UN for failing to arrest Sudanese president

Turkey demands life for journalists in coup bid trial

Netanyahu expects EU to follow suit on Jerusalem

Putin orders withdrawal of ‘significant’ amount of troops from Syria

Putin to meet with Sisi in Cairo

GCC at a critical juncture

Houthi rebels tighten grip on Sanaa after Saleh’s assassination

Israel’s Syrian air strikes risk renewing escalation as Iran expands presence in Golan

Qatar to acquire 24 Typhoon fighters from UK

Palestinian stabs Israeli guard in ‘terrorist’ attack

UAE’s Sheikh Mohammed says US Jerusalem decision could help terrorists

Fateh encourages more protests, refuses to meet Pence

Chinese electric carmaker to open Morocco factory

Iraqi victory over IS remains fragile

Morocco’s renewed ties with South Africa likely to consolidate support for Western Sahara stance

Lebanese security forces fire tear gas at protestors

Syria’s justice system: ‘working without a written law'

Egypt revives controversial desert capital project

Iran sentences fugitive ex-bank chief to jail

Iraq announces 'end of the war against Daesh'

Israeli air strike kills 2 in Gaza

UK foreign minister in Iran to push for Briton's release

Turkey's Erdogan seeks to lead Muslim response on Jerusalem

Iraqi Christians celebrate in town retaken from IS

Isolated US defiant at UN Security Council

Putin to visit Turkey for talks on Jerusalem, Syria

Protests sweep Muslim world over Jerusalem

US urges Saudi to show caution in regional disputes

Thousands march in Istanbul to protest US Jerusalem move

Bahrain Shiite leader undergoes surgery

Malaysians, Indonesians protest US move on Jerusalem

EU, Jordan voice backing for Palestinian state

Clashes in West Bank over US Jerusalem move

Macron appeals for calm over US Jerusalem embassy move

World leaders to 're-legitimise' Lebanon PM at Paris talks