Syria and Saudi Arabia have formalized a landmark investment package spanning aviation, energy, real estate, and telecommunications, positioning Syria for renewed economic prosperity.
Syrian Investment Authority Chief Talal al-Hilali announced the agreements on Saturday, encompassing the construction of a new international airport in Aleppo, the establishment of a low-cost Syrian-Saudi airline, and the SilkLink telecommunications initiative to establish Syria as a regional connectivity hub.
Saudi Investment Minister Khalid al-Falih announced that the Elaf fund, backed by $2 billion (7.5 billion Saudi riyals) from private Saudi investors, will prioritize two Aleppo airports. This development, along with the new low-cost airline branded “Flynas Syria,” will be led by a joint venture between Saudi budget carrier flynas and the Syrian Civil Aviation Authority (51% Syrian-owned, 49% flynas-held), with operations set to begin in late 2026.
This deal represents Saudi Arabia’s most substantial commitment to Syria since the United States lifted sanctions in December 2024. Riyadh has consistently backed Syria’s current leadership under President al-Sharaa.
“This partnership heralds a new era of stability across the region and prosperity in Syria,” al-Hilali declared.
The investments underscore growing international confidence in Syria’s trajectory, including recent diplomatic engagements.
