Turkish–Qatari–U.S. Consortium Signs $4 Billion Deal to Redevelop Damascus Airport

Syria has signed a landmark US $4 billion memorandum of understanding (MoU) with an international consortium—including Qatari, Turkish, and American firms—to redevelop and expand Damascus International Airport ReutersZawya.

Key Players Involved:

• Qatar’s UCC Holding (via UCC Concessions Investments LLC) – leading the consortium ILoveQatar.netuccholding.com.

• Turkish participants:

  • Cengiz İnşaat

  • Kalyon İnşaat

  • TAV Tepe Akfen ZawyaILoveQatar.net.

• U.S. side: Assets Investments USA LLC, a U.S.-based company ZawyaILoveQatar.net.

The signing occurred in Damascus under the patronage of President Ahmad al-Sharaa and was attended by U.S. Special Envoy Tom Barrack, who hailed the agreement as a “major step toward post-conflict recovery and regional reintegration” Turkish Minuteuccholding.comAP News.

Scope of the Project:

• Implemented under a Build–Operate–Transfer (BOT) model in five phases.

  • Phase 1: increase capacity to 6 million passengers in the first year.

  • Phase 2: bring capacity up to 16 million passengers.

  • Final phase: full capacity of 31 million passengers annually ZawyaILoveQatar.netAGBI.

Project Features:

• Designed to meet ICAO and IATA international standards ZawyaILoveQatar.net.

• Facilities include up to 32 passenger boarding gates, modern boarding bridges, and an integrated air navigation system ZawyaILoveQatar.netairport-technology.com.

• A premium duty-free zone featuring international dining and retail outlets ILoveQatar.netArabian Business.

• Construction of a 50-kilometer access road leading to the airport ZawyaILoveQatar.netAGBI.

• Financing of US $250 million to acquire 10 Airbus A320 aircraft for Syrian Airlines, aimed at revitalizing the national carrier’s fleet ZawyaILoveQatar.net.

Economic and Strategic Impact:

• Expected to generate over 90,000 direct and indirect jobs africa-middleeastmining.comairport-technology.com.

• Aims to bolster Syria’s global connectivity and contribute to economic recovery, trade, tourism, and regional integration africa-middleeastmining.comArabian Businessuccholding.comAP News.

• Positioned as one of Syria’s largest foreign infrastructure investments in decades and a cornerstone of reconstruction efforts Reutersuccholding.comAP News.

Broader Investment Context:

This airport deal is part of a wider US $14 billion package of investment agreements signed in the same ceremony, which includes urban, transportation, and infrastructure projects such as a $2 billion subway system, real estate developments, and more AP NewsReuters. Earlier in May 2025, Syria also signed a $7 billion energy infrastructure agreement with a similar Qatari-Turkish-U.S. consortium AP NewsZawya.

Summary Table

Sources:

• Associated Press–style news report detailing the $14 billion deal package and the $4 billion airport agreement AP News.

• Reuters overview of the investment deals, including the airport project Reuters.

• Turkish Minute, Zawya, ILoveQatar, and other outlets outlining project specifics and consortium details