Damascus Cham Holding signs a 23 billion Syrian pounds worth partnership contract with Talas Company for Trade and Industry
A partnership… building a country Damascus Cham Holding Company signed today a contract with Talas Company for Trade and Industry The contract was signed by both parties: On behalf of Damascus Cham Holding, Chairman Dr. Bishr Al-Sabban on behalf of Talas Company for Trade and Industry, Chairman Anas Talas The contract includes the establishment of a joint company between Damascus Cham Holding and Talas under the name of Mirza to build and invest four plots, including two housing units and another mixed between housing and commerce in one of the important sites in the city of Marota. The floor area of the plots is about 60 thousand square meters and the capital of the company is 23 billion Syrian pounds equivalent to 52.7 million dollars. Damascus Cham Holding got 75% for in-kind advances worth 17.3 billion Syrian pounds equivalent to 39.6 million dollars. Strategic partner Talas company gets 25% for cash shares worth 5.7 billion Syrian pounds equivalent to 13.1 million dollars, 40% of which is paid during establishment, and the rest over a period of three years.
