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.

 

Rouhani seizes opportunity to get closer to Qatar

New crown prince widely welcomed in Saudi Arabia

Banned Bahraini newspaper fires staff

Iraq forces battle deep into devastated Old Mosul

Prime time for Ramadan on Gulf fashion calendar

Mali activists call for referendum to be abandoned

Iraqi forces control two thirds of Mosul Old City

Assad leads Eid prayers in Syria’s Hama

Lone-wolf attacks raise concern about new trend in terror

Erdogan slams Saudi demands of Qatar as illegal

Sudan making 'positive' steps on meeting US sanctions terms

Mecca suicide bombing injures six

Gulf crisis heats up as Qatar receives list of demands

Suicide attacks kill at least three people in Mosul

Civilians killed in Iraq suicide bomb attacks

UN warns Yemen cholera outbreak could infect 300,000 by September

Putin launches deep-water phase of TurkStream pipeline

Berlin warns Ankara against meddling in religious affairs

Asian states downplay 'Russia proposal' to send troops to Syria

Iran’s Salehi urges West to save historic nuclear deal

Iran, allies mark Jerusalem Day with rallies

US-led Syria strikes kill 472 civilians in one month

Morocco dismantles 'IS-linked cell plotting tourist attacks'

France sets out tough new anti-terror law

Russia warships, submarine strike IS targets in Syria

Trump-Saudi ties help pave way for new Saudi crown prince

Makeshift clinic saves lives near Syria’s Raqa

Egyptian fuel helps restart Gaza power station

Rights groups say Morocco protest leader 'severely beaten' during arrest

5 killed in Mogadishu car bomb attack

UN experts urge Egypt to halt executions after 'flawed trials'

Qatar emir congratulates newly-appointed Saudi crown prince

Kushner hails 'productive' Palestine-Israel talks

Macron says removing Assad no longer priority in Syria

Turkey sends first aid ship to isolated ally Qatar

Iraq PM says IS admitting defeat in Mosul

Egypt delivers fuel to ease Gaza electricity shortage

Saudi Arabia named after ruling dynasty

Turkey detains catering boss after army food poisoning

Israel says will unleash 'unimaginable power' in future Lebanon war

Brussels nail bomber identified as Moroccan

Saudi stock market bullish on new heir

Lebanon's Salame to be new UN Libya envoy

New Saudi heir is king's agent of change

Turkish President accused of influencing courts