Business & Economics

Riyadh Launches $5B+ Aleppo-Centric Reconstruction Blitz in Syria

On 7 Feb 2026, Damascus and Riyadh inked roughly $5.3 billion in binding contracts—including a $2 billion Elaf Fund for Aleppo’s airports and a $1 billion SilkLink fiber network—marking the first large, post-sanctions capital surge into post-Assad Syria.

By Tomás Rydell

Focusing Facts

  1. SilkLink: Saudi Telecom will spend nearly $1 billion to lay thousands of kilometers of fiber within 18–24 months, turning Syria into an Asia-Europe data transit corridor.
  2. Elaf Fund pledges 7.5 billion riyals (~$2 billion) to overhaul Aleppo’s existing airport and build a new one designed for 12 million passengers a year.
  3. Flynas Syria, 51 % Syrian/49 % flynas, targets first flights in Q4 2026.

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Perspectives in this article

  • Gulf and regional state-aligned media
  • Western mainstream press
  • Independent and analyst-driven outlets
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