Hama Rises: $1.5 billion investment package with execution contracts for 11 projects
The “Hama Rises” package signs execution contracts for 11 projects worth over $1.5 billion, led by the Yasmin district and about 30,000 jobs.
Hama Governorate launched on Wednesday evening the “Hama Rises” investment and development package, worth a total of $1.5 billion, at a ceremony organised by the governorate’s General Secretariat in cooperation with the Syrian Investment Authority, attended by Hama Governor Abdulrahman al-Sahyan and the ministers of economy and industry Nidal al-Shaar, agriculture Basil Sweidan, tourism Mazen al-Salhani and finance Muhammad Yusr Barnieh, along with a number of investors.
The package includes the signing of contracts and memoranda of understanding to launch 11 investment projects in service, urban and tourism sectors, in a step the governorate described as the first of its kind in the governorate, aiming to stimulate the local economy, improve the investment environment and help solve the housing crisis.
Execution contracts, not just opportunities on offer
Hama Governor Abdulrahman al-Sahyan said the 11 announced contracts are real execution contracts, not merely investment opportunities on offer, noting that the governorate is preparing to launch new projects in agriculture, industry and livestock. Al-Sahyan said real estate and urban development take the largest share of the announced projects, pointing to coordination with the ministries of public works and local administration and the concerned bodies to launch large housing investment projects that would help ease the housing crisis. According to the governorate’s public relations director, Dr. Mohammad al-Sharif, the 11 project contracts were signed directly between Hama City Council and the investing bodies, and are expected to provide about 30,000 direct and indirect jobs.
Yasmin district, the package’s largest project
The Yasmin district project leads the package. Signed between Hama City Council and Al-Yasmin Investment and Real Estate Development Company, its total cost exceeds $0.5 billion. It is being built in the Wadi al-Jawz area of Hama on about 300,000 square metres. The project is set to include about 1,800 apartments, ranging from 115 to 300 square metres, with total apartment area exceeding 110,000 square metres, alongside a mall with restaurants, cafés, retail shops, entertainment venues, parks, health, educational and government facilities, mosques, cultural venues and clubs, and green spaces, under the “10-minute neighbourhood” concept that lets residents reach schools, shops, sports facilities and community clubs on foot. The district is being built on the ruins of the Wadi al-Jawz informal area. The project was presented among investment projects announced at a memorandum-of-understanding signing ceremony in Damascus in August 2025, before now becoming a signed execution contract.
The Orontes front: the Al-Ma’mouriyah project
Among the urban projects, the governorate announced an integrated tourism and residential project in Al-Ma’mouriyah, extending about four kilometres along the banks of the Orontes River south of Hama city, comprising a residential city, shopping centres, entertainment and sports facilities and tourist areas, as part of developing the city’s urban front, improving public spaces and providing leisure and service facilities for residents.
Other projects in the package
The package also includes the Qurtuba project: six residential towers, a commercial tower, a five-star hotel, luxury restaurants and cafés and a private mosque, providing about 4,000 jobs; an economic housing project for people with limited income with 3,716 apartments plus shops, services and public spaces; as well as shopping centres, garden rehabilitation, a new car park near the University Hospital, a museum project in Azm Palace and a truck park in Umm al-Tuyur.
Property prices set to fall
On real estate, the governor expects prices to fall in the coming period, as the housing and urban projects set to be launched take effect, advising residents to wait and not rush to buy property now, and noting that the next package will include large housing projects expected to be reflected in the city’s property market. The governor stressed that the projects are not built on land with disputed ownership, and that the governorate is handling ownership files in coordination with the competent authorities, in a way that guarantees the rights of investors, citizens and the state.
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