Aleppo Inks Western Corridor Deals
The Aleppo branch of Syria's Investment Authority signed investment contracts on 24 May 2026 covering several sites within the Western Ring (al-Muhalliq al-Gharbi) project, in a ceremony at the Aleppo governorate building. The agreements bring private capital into the redevelopment of one of the city's most prominent open parks, with the stated aim of upgrading urban infrastructure and reviving commercial activity around the corridor.
Officials from local government and the participating investors attended the signing, which formalised memoranda of understanding negotiated over recent months.
Seventy-Million-Dollar Footprint
The project carries a total declared value of US$70 million. According to the breakdown announced at the signing, 50 percent of the site is reserved as free public green space, 40 percent is allocated to investment-linked green spaces, and 10 percent is set aside for removable, demountable structures.
The mix is designed to preserve the corridor's open-park character while opening defined commercial pockets to private operators.
Four Investors, Two Starting
Hazem Lutfi, head of the Investment Authority's Aleppo branch, said preparations stretched across several months and produced memoranda of understanding with four investors in total. Two of those investors are now ready to begin construction under the first phase, with the remaining two expected to follow once their site preparations are complete.
Sankari Holding, represented by project manager Fadi Bawadakji, is among the firms named at the signing.
Six-Month First Phase
The first phase of works is scheduled to run for six months from the start of execution. Ali Hallaq, a member of the executive office of the Aleppo City Council, attended the signing alongside the participating investors.
The Western Ring corridor has long been one of Aleppo's most prominent recreational spaces, and the contracts mark the first publicly disclosed private-sector commitments to redeveloping it.