Trump Tower project in Syria: Symbolic or strategic? - analysis

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Title : Trump Tower project in Syria: Symbolic or strategic? - analysis
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In a surprising development that caught the attention of political and economic circles alike, the United Arab Emirates-based Tiger Real Estate Group announced its intention to build a skyscraper bearing the name of US President Donald Trump in the Syrian capital of Damascus. The announcement followed Trump’s decision to lift sanctions on Syria, which reportedly came in response to a direct request from Saudi Crown Prince Mohammed bin Salman during the recent Riyadh summit.

The tower, expected to comprise 45 floors and cost around $200 million, is seen by its developers as symbolic of a new phase for Syria as it emerges from the ravages of war. It also opens the door for foreign investment to return to a country that has been isolated politically and economically for more than a decade. “Trump Tower in Damascus is not merely a construction project; it is a message,”

Tiger Group CEO Walid Al-Zoubi told The Media Line. “We want to tell the world that Syria is capable of recovery and deserves to be reintegrated into the global economic system. ”Al-Zoubi noted that his company is currently studying several potential sites within Damascus, with the possibility of adjusting the number of floors based on technical feasibility studies and regulatory approvals. He also confirmed that the company will submit an official request this week to obtain construction permits from the relevant authorities, while also proceeding with the process of acquiring a license to use the Trump name as a registered trademark. (Read More)