Damascus Cham Holding: Marota City is the Largest Real Estate Project in Syria
In a quick business card for the company in the business world, Damascus Cham Holding is a private joint stock company established at the end of 2016 with a capital of 60 billion Syrian pounds. It is an investment company provides its strategic partners with a developed and safe investment environment according to adequate standards and tools to encourage the investment process. The company aspires to be a pioneer and model in the development of regulated areas, the creation of smart cities and the provision of best services to citizens. The company is engaged in managing and investing the properties of the administrative unit (Damascus governorate) by establishing subsidiary or shareholder companies, as well as carrying out commercial, economic and investment projects in the various sectors permitted under the Companies Law, in accordance with the company's vision and its developmental role in society. Its cornerstones are to be a citizenship corporate through its support of the community in which it is present, and through its contribution to raising the efficiency of investment, business development, financing infrastructure works and the expenses of creating and managing regulated areas, which positively reflects on the development and growth of the community. Aspirations: Damascus Cham Holding aspires to be one of the leading private companies, through the outstanding performance and quality of services provided to the community, in addition to providing key solutions for the development of Damascus and its services in all fields. Work Mechanism: Participation is the essence and basis of the investment mechanisms and tools carried out by the company. The principle of partnership between Damascus Cham Holding Company and any of the strategic partners is based on investing and developing real estate projects, so that Damascus Cham Holding Company provides land (in-kind assets) and the investor (financial contribution) sufficient to finance the construction costs. This creates a new company between Damascus Cham Holding Company and the investor, similarly to Aman Damascus, which was established between Damascus Cham Holding and Aman Holding Company. Such companies make significant profits and Damascus Cham Holding's share is granted to Damascus Governorate. Damascus Cham Holding is also working to invest and develop service projects in a partnership style. Results Language: Damascus Cham Holding has achieved a set of results, both economically and socially. On an economic level, the Holding Company provided Damascus Governorate with infrastructural and rental expenses, approximately twelve billion since its establishment, where the total cost of the rent paid to the families evacuated from the area situated behind Al-Razi exceeded about three and a half billion Syrian pounds annually. Damascus Cham Holding is also working on obtaining satisfactory funding for alternative housing in order to ensure the payment ability of its allocators. Negotiations are now underway with banks to acquire such funding with a relatively low interest, in addition to other negotiations now being held with Russian and Chinese associates to finance and execute with prime cost. It is also worth mentioning that the basic phase of the infrastructure in Marota has been completed enabling any approved plot to start the construction phase. The infrastructure contract for study and implementation was financed by Damascus Governorate through loan payment by Damascus Cham Holding. During two years of hard work and continued effort, Damascus Cham Holding provided the treasury by nearly two billion Syrian pounds, represented by various fees and taxes, stamps and company contracts that have been established - various taxes - social insurance .. etc.). Marota City was chosen as the first investment city for Damascus Cham Holding Company as it will be the strongest and best investment for private companies and all investors in terms of design, vitality and service features of the city. It will also be the cornerstone for attracting capital inside and outside the country, as well as providing a huge number of job opportunities through Damascus Cham Holding and its affiliated subsidiaries. Marota will also enable subsidiary companies in various fields to boost the wheel of production. Marota City: Marota City is one of Damascus Cham Holding projects, which is the largest real estate investment project in Syria, 30% of it owned by Damascus Governorate and 70% to the owners of the land of the region on which the project is being built. Investors participating in the project out of national and investment motives, they are strategic partners in the national project, each according to their proportion with Damascus Cham Holding within the fields allocated for investment in the city. And moving on to the distinctive characteristics of Marota City project, it represents the new commercial center of Damascus, the oldest city in the world, with its institutions ranging from houses, shops, hotels, and restaurants in addition to financial institutions, spacious streets in modern and harmonious designs. It is the first step in the march towards prosperity and urbanization of the capital Damascus, which contributes to the city's re-emergence at an international level. A new commercial center for Damascus with its high towers (Landmark). Its towers and buildings range from luxurious residences, shops, hotels, hotel apartments, restaurants, cafes, financial, banking and healthcare institutions, cultural services, and distinctive upscale educational schools that takes eco-architecture into consideration. Together they form beautiful, harmonious blocks full of charm and diversity in design and beauty, directly connected to the most important international road hubs (Lebanon, Jordan, governorates, airport road), in addition to its proximity to the service, medical, entertainment centers and luxurious residential areas. Marota has also been designed to provide a high level of luxury and enjoyment in practicing sports, running and cycling within quiet and dedicated spaces and paths, in addition to spacious large gardens, ponds, and fountains to inspire and provide fun for the families. Integral and modern infrastructure has been implemented in underground tunnels to cover the entire city; to kick-start the first step of smart cities in Syria. Including provision of gas pipelines to cover all requirements for domestic, service, investment, commercial use and clean heating, in addition to service control centers that provides all governmental, municipal, and private services in a modern integral method suiting the all the needs of the inhabitants. All with the city's highest standards of sustainability, thermal insulation, clean energy and water treatment.