Syria and Saudi Arabia sign multibillion-dollar investment deals

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Briefing Summary

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Syria and Saudi Arabia signed multibillion-dollar investment deals in aviation, energy, real estate, and telecommunications, as Syria aims to rebuild its economy following a 14-year civil war. The agreements, announced by the Syrian Investment Authority, include developing a new international airport in Aleppo, launching a low-cost Syrian-Saudi airline called "Flynas Syria," and establishing a telecommunications project called SilkLink. Saudi Arabia, a major backer of Syria's new leadership since 2024, will invest $2 billion through the Elaf fund to develop two airports in Aleppo. The telecommunications sector is expected to receive nearly $1 billion in investment to improve connectivity between Asia and Europe. The deals represent the largest investment in Syria since the US lifted sanctions in December.

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Key claims

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Flynas and the Syrian Civil Aviation Authority signed an agreement to establish a new airline called “Flynas Syria”.

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Syria will see nearly $1bn in investment in the telecommunications sector.

factualAbdulsalam Haykal, Syria’s minister of communications and information technology

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Elaf fund would commit $2bn to develop two airports in the Syrian city of Aleppo.

factualSaudi Investment Minister Khalid al-Falih

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Syria and Saudi Arabia have signed a major investment package spanning aviation, energy, real estate and telecommunications.

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Flynas Syria is slated to start operations in the fourth quarter of 2026.

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Full report

2 min read · 314 words

Elaf fund will finance projects with buy-in from Saudi investors committing $2bn for two airports in Aleppo city.Published On 7 Feb 2026Syria and Saudi Arabia have signed a major investment package spanning aviation, energy, real estate and telecommunications as Damascus’s new leadership seeks to rebuild after a devastating 14-year civil war.Syrian Investment Authority chief Talal al-Hilali announced a swath of deals on Saturday, including the development of a new international airport in Aleppo, the launch of a low-cost Syrian-Saudi airline, and a telecommunications project called SilkLink aimed at turning the country into a regional hub.Recommended Stories list of 4 itemslist 1 of 4Syrian forces enter SDF-stronghold of Qamishli under ceasefire deallist 2 of 4US president praises Syrian leader al-Sharaa after offensive against SDFlist 3 of 4Al-Sharaa meets Putin as Russia seeks to secure military bases in Syrialist 4 of 4Syrian army offensive overjoys some, leaves others with ‘existential’ fearend of listSaudi Arabia has been a major backer of Syria’s new leaders, who took power after toppling longtime ruler Bashar al-Assad in December 2024, with this latest deal marking the biggest investment since the United States lifted sanctions on the country in December.Saudi Investment Minister Khalid al-Falih said the newly launched Elaf fund, which aims to finance large-scale projects with participation from Saudi private-sector investors, would commit $2bn (7.5 billion Saudi riyals) to develop two airports in the Syrian city of Aleppo.Rebuilding Syria’s economyAbdulsalam Haykal, Syria’s minister of communications and information technology, said his country will see nearly $1bn in investment in the telecommunications sector, with plans to lay thousands of kilometres of cable to boost connectivity between Asia and Europe.Saudi budget carrier Flynas and the Syrian Civil Aviation Authority announced they signed an agreement to establish a new airline called “Flynas Syria”, which would be 51 percent owned by the Syrian side and is slated to start operations in the fourth quarter of 2026.

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