Syria and Saudi Arabia have signed a multibillion-dollar investment package covering aviation, energy, real estate, and telecommunications as Damascus’s new leadership moves to rebuild after a 14-year civil war. Syrian Investment Authority chief Talal al-Hilali announced the agreements, which include developing a new international airport in Aleppo, launching a low-cost Syrian-Saudi airline, and creating a telecommunications project called SilkLink to position Syria as a regional hub. Saudi Arabia’s Elaf fund will invest $2 billion to develop two airports in Aleppo, while nearly $1 billion will go into telecommunications infrastructure.

Saudi Arabia has been a key supporter of Syria’s new government, which took power after toppling Bashar al-Assad in December 2024. The deals mark the largest investment since the United States lifted sanctions on Syria in December. The Ministry of Energy also signed a water agreement with Saudi firm ACWA Power, and Flynas partnered with the Syrian Civil Aviation Authority to establish “Flynas Syria,” expected to begin operations in late 2026.

US envoy Tom Barrack praised the agreements as a boost for reconstruction, while analyst Benjamin Feve cautioned that the deals may carry more political than immediate economic weight.