The General Authority of Civil Aviation of the Syrian Arab Republic and Elaf Investment Fund, led by BinDawood Investment Company, today announced substantial progress on the Aleppo International Airport development project, confirming their joint commitment to commencing improvement works at the existing airport in early 2027, in accordance with an agreed timeline that runs in parallel with the completion of the structuring and financial close of the new airport.
The announcement comes at the conclusion of a series of high-level workshops and meetings held in Jeddah from 7 to 10 September 2026, attended by a delegation from the Authority headed by H.E. Mr. Omar bin Hisham Al-Hosari, Chairman of the General Authority of Civil Aviation, together with the Authority’s deputy chairmen and senior officials concerned. H.E. Minister Plenipotentiary Mohsen Mahbash, Chargé d’Affaires of the Embassy of the Syrian Arab Republic to the Kingdom of Saudi Arabia, joined the senior-level meetings on 9 and 10 September, underscoring the official standing and sponsorship the project enjoys on both sides. Representing Elaf Investment Fund and BinDawood Investment Company were Dr. Abdulrazzaq Dawood BinDawood, Chairman of the Boards of Elaf Investment Fund and BinDawood Investment Company; Mr. Walid BinDawood, Member of the Investment Committee; Mr. Ahmad Abdulrahman Mahayri, Board Member; and Mr. Abdullah bin Abdulrazzaq BinDawood, Member of the Project Negotiating Team.
Four Workstreams Advancing in Parallel — Legal, Technical, Commercial and Financing
Teams of international and local advisors and accredited partners from both sides are working in an integrated manner across the legal, technical, commercial and financing workstreams. Prior to the Jeddah meetings, contracts had been awarded for the field survey and preliminary studies packages, which are currently under way in line with the approved schedule to meet the financial close targets, and in parallel with the Authority’s programmes for alignment with international civil aviation standards, ensuring the airport meets the highest international standards and requirements.
Commercial and Financing Progress for the New Airport
On the commercial and financing front for the new airport, preparation of the business plan, financial model and bankability study has advanced considerably and is now under joint review by both parties. Engagement with international financing institutions has also begun, placing the project’s financing structure on a solid, multi-source footing.
Strategic Role of the Airport Ecosystem
Discussions addressed the strategic role of the new Aleppo airport ecosystem in supporting the industrial sector and its connection to global supply chains and air cargo networks, establishing the airport as a logistics platform and an economic catalyst to accelerate growth in northern Syria, and contributing to linking the country’s aviation and air navigation system with its regional and global surroundings. The two parties also discussed Elaf Fund’s intention, with the Authority’s support, to study financing structures for the acquisition of modern aircraft for the fleet operating in Syria.
The Turning Point
Both parties describe the Jeddah sessions as the turning point from the structuring phase to the execution phase, confirming that the works programme, concession documents and financing package are all advancing in parallel toward the same target date, within a framework of joint governance and regular follow-up at the highest levels.
Statements from Officials
