Under the patronage of President Ahmad al-Sharaa, Syria’s Ministry of Tourism launched the Beaumont project in partnership with Izdehar Holding, marking a major new investment in the country’s tourism and real estate sectors.
The launch ceremony took place at the Dama Rose Hotel in Damascus and drew government officials, investors, and representatives from regional and international institutions and companies. The ministry and Izdehar Holding signed an agreement to develop the Beaumont as an integrated residential, commercial and entertainment destination.
Planned along the banks of the Barada River, the project will cover about 77,000 square meters and carries an estimated investment value of $300 million. Officials said the development is expected to generate between 1,500 and 2,500 direct jobs, along with roughly 3,500 indirect employment opportunities, giving it a significant economic footprint beyond tourism alone.
Twin Towers Shape the Development
According to the Ministry of Tourism, the project centers on two signature towers designed to reshape part of the Damascus skyline. The first tower will house a five-star hotel with about 150 units across 22 floors, offering panoramic views and multiple dining venues.
The second tower will include 26 floors of serviced luxury apartments overlooking the city. The broader complex will also feature a two-story commercial center intended for international brands, cafes and restaurants, as well as a 10-story business center aimed at attracting major companies and investors.
Tourism Growth and Workforce Development
Tourism Minister Mazen al-Salehani described the Beaumont Damascus project as an important step in efforts to revive the tourism sector and strengthen Syria’s appeal as an investment destination. He said projects of this scale can support economic growth, attract high-value capital and create sustainable employment, while also signaling investor confidence in the country’s long-term recovery.
Wafiq Reda Saeed, founder of Izdehar Holding, said the development is intended to diversify tourism offerings while expanding hotel capacity, which he said could help stabilize room rates in the capital. He also praised the ministry’s efforts to promote governance, transparency and stronger private-sector partnerships.
Alongside the signing, Saeed announced an initiative to provide 30 Ministry of Tourism employees with free training grants. The participants will attend intensive programs through the Saeed College of Business Administration at the University of Oxford, focusing on hospitality, project management and tourism investment.
Investor Support and Economic Recovery
Talal al-Hilali, director general of the Syrian Investment Authority, said the project reflects broader efforts rebuilding the national economy through strategic investment. He pointed to the authority’s “single window” system, bringing together representatives from multiple ministries speeding up project review and streamlining incentives for investors.
Hilali also cited support from Syrians abroad and regional partners, including Saudi Arabia, Qatar, Bahrain, the UAE and Turkey, as contributors to Syria’s economic and investment growth. Izdehar Holding is a multisector group focused on real estate development and commercial project financing, with a portfolio centered on long-term and sustainable growth strategies.
