Syrian developer Souria Holding has selected Consolidated Contractors Company (CCC) as the exclusive design-and-build contractor for the $600m Damascus Financial Centre (DFC) in Syria.

The two parties signed a memorandum of understanding on 6 July. The agreement covers design management, engineering, procurement, construction, testing and commissioning, handover and defects liability services. Souria Holding chairman Haytham Joud and CCC chairman Samer Khoury signed the agreement.

Souria Holding is developing the project in partnership with the Governorate of Damascus. The developer says the scheme is intended to support the city's long-term economic revitalisation and urban development.

The mixed-use development sits on Plot 47 in the Western Hejaz regulatory area of Damascus' Baramkeh district. The site covers about 32,000 square metres (sq m) and the development will have about 380,000 sq m of built-up area, making it one of the largest mixed-use schemes planned in Syria.

The DFC comprises a five-star hotel, including furnished apartments and serviced apartments; two residential towers; three grade-A office towers on a core-and-shell basis; retail and commercial space at ground and underground levels; and four basement levels for parking and supporting infrastructure.

The first phase of construction involves the delivery of three office buildings with a total above-ground built-up area of 72,000 sq m. The completion deadline is the fourth quarter of 2028.

Lebanon’s Dar Al-Handasah is the frontrunner for the design consultancy role, working for CCC as the design-and-build contractor.

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Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes: