As part of the Ministry of Tourism’s drive to launch transformative development projects, a Memorandum of Understanding was signed between IDH (Inventure International Development Holding – part of Inventure Group) and SIDH (Syria Inventure International Development Holding), in the presence of the Assistant Minister for Hotel and Quality Affairs, Mr. Faraj Al-Qashqoush, on behalf of the Minister of Tourism, Mr. Mazen Al-Salhani. Representing IDH and SIDH were Chairman Mr. Fawaz Sawaf Al-Duwaji and Group CEO Mr. Karim Nakhle, alongside Director of SIDH Mr. Mataz El Tinawi, and other dignitaries.
The MOU outlines two multibillion-dollar City Development Projects — Damascus Gate and Levant Gate Latakia— valued at a combined \$8 billion. These projects aim to revive Syria’s economy and include two AI and Datacenters, road and infrastructure rehabilitation, and facilitation of investment partnerships with global stakeholders including Sovereign Wealth Funds, Institutional Investors, and Development Banks.
Inventure Group, founded in 1969, specializes in developing cities, ports, free zones, and industrial hubs across the Middle East and Africa. Through IDH and SIDH, the group will lead these developments with local and international partners.
Damascus Gate is envisioned as a future-forward urban district featuring:
.Syria Business & Financial Centre (SIBFC)
.Damascus Digital & Design District (DDDD)
.Damascus Healthcare City (DHC)
.Syria International Multi-Commodities Center (SIMCC)
.Damascus AI & Datacenter (D.AI.D)
It aims to position Damascus as a sustainable, green international hub for trade, finance, AI, telecom, healthcare, creativity, and education.
Levant Gate Latakia will transform Syria’s Mediterranean coast into a vibrant destination for tourism, industry, and innovation, with:
. Formula City
. Surf City
. El Kheil City
. Tec City
. Pixel Park
. Levant AI & Datacenter
Together, these projects signal a major step forward in Syria’s economic renewal and global reintegration.
