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Syria’s reconstruction could take up to five years with total costs estimated at up to $500 billion, a senior government official said.
Deputy Minister of Local Administration Dhafer Al-Omar told Saudi Arabic language news portal Akhbar 24 that rebuilding the country’s real estate sector alone could cost from $300 billion to nearly $500 billion while infrastructure reconstruction is estimated to cost $100 billion.
He said the scale of investment presents opportunities for local and international investors across multiple sectors.
He added that priority would be given to restoring basic services such as roads, electricity, water and telecommunication, followed by reconstruction of heavily damaged areas.
Saudi Telecom Company (stc) had announced on Sunday the award of an $800 million telecommunications infrastructure project in Syria, following a competitive tender process.
(Writing by Majda Muhsen; Editing by Anoop Menon)
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