Axis (of Evil) Turning? The Changing Face of Syria

As noted in a recent article on Global Voices, Syria – while still a nation “officially” considered a Socialist country – is experiencing rapid change.  A construction boom is in place, and the financial judicial structure is being reformed and revisited. In many ways Syria is going through the Egypt model of transformation from socialist economy to a free market economy. And Damascus, as the article notes, is more and more starting to look like Cairo and some other Gulf states:

“…There is a lot of Gulf money pouring into Damascus, a lot of investment and much being said about new “malls”, apartments and what not… The new construction boom is focused on new shopping malls, luxury housing projects on the outskirts of cities, like Aleppo’s Cordoba Hills, or the much talked about, Damascus’s Eighth Gate [being developed by] Emaar Properties and IGO, the offshore investment and property development company … a mixed use furnished apartments, commercial and retail development in the Yafour area, approximately 15 minutes from the center of Damascus. The US$500 million project will recreate the luxury and style that are features of Emaar’s world-class Dubai developments….”



This entry was posted on Friday, February 29th, 2008 at 3:11 pm and is filed under Syria.  You can follow any responses to this entry through the RSS 2.0 feed.  You can leave a response, or trackback from your own site. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.