Rawafed Damascus Company
On 04/8/2018, the constituent meeting of Rawafed Damascus Private Investments Company was held at the headquarters of Damascus Cham Holding in Marota City. In the presence of the Vice Chairman of Damascus Cham Holding, members of the Board of Directors of Damascus Cham Holding and a number of senior management officials of both companies and in the presence of representatives from the Ministry of Interior Trade and Consumer Protection. The meeting included reciting the founders' report, the in-kind quota report, the report of the establishment expenses auditor, as well as electing the Board of Directors and an external auditor in order to announce the company`s establishment. Rawafed Damascus Investments is one of the companies established by Damascus Cham Holding Company to execute the urban development of Marota City. Rawafed is the result of a partnership established between Damascus Cham Holding Company and a number of companies, which are: Wings Private Joint Stock Company Ramak Company for Developmental and Humanitarian Projects LLC Al Amar One-Person LLC Ultimate Trading LLC The capital of the company is 25.9 billion Syrian pounds; equivalent to 48.3 million US dollars. Damascus Cham Holding received 49% for in kind shares valued at 12.7 billion Syrian pounds equivalent to 23.7 million US dollars. Strategic partners received 51% for cash shares worth 13.2 One billion Syrian Pounds, equivalent to 24.6 million dollars, 20% of which was paid upon establishment and the rest within three years. Rawafed will build and invest in two major residential plots within the city of Marota; they include fifteen floors two of which are commercial floors and a technical service floor for each building. In addition to constructing and investing in an investment plot situated on the southern highway within the city of Marota, including twelve floors dedicated to all investment and commercial activities. Investments in the new company will be inclusive to various economic sectors, import and export business, services and consulting, management of commercial, service, tourism and agricultural projects. In addition to investing, developing, and participating in them, also purchasing, selling, leasing of real estate, as well as construction, contracting, undertaking, and investments of all kinds, also trading and distributing all kinds of materials and equipment. It is worth mentioning that the city of Marota City, which is located in a vital location within Damascus, extends from the Eastern Mezzeh villas towards the area of Kafarsouseh, is one of the most important projects that will be executed by Damascus Cham Holding Company, the investment entity of Damascus Governorate. The advantages of investing in this project varies from having a high level infrastructure that complies with the highest international standards, which most of them have been accomplished in addition to the distinctive urban approach, large green spaces and leading technical services that will make Marota a smart city.
At a steady pace, Damascus Cham Holding continues to realize its vision to be one of the leading Syrian companies in the field of investment and business development, surpassing all challenges to achieve more by attracting investors in accordance with the strategy of “Win-Win”. Today Damascus Cham Holding is signing a pivotal contract in partnership with each of the strategic partners: Wings Private Joint Stock Company Ramak Company for Developmental and Humanitarian Projects LLC Al Amar One-Person LLC Ultimate Trading LLC The contract includes the establishment of a private company operating in accordance with the Companies Law with the name Rawafed Damascus Private Joint Stock Company One of the company's essential aims is to build and invest in two major residential plots within the city of Marota. They include fifteen floors, two of which are commercial floors and a technical service floor for each building, in addition to constructing, cladding and investing in an investment plot situated on the southern highway within the city of Marota including twelve floors dedicated to all investment, commercial activities. The floor area of the plot is about 38,000 square meters. The capital of the company is 25.9 billion Syrian pounds, equivalent to 48.3 million US dollars. Damascus Cham Holding received 49% for in kind shares valued at 12.7 billion Syrian pounds equivalent to 23.7 million US dollars. Strategic partners received 51% for cash shares worth 13.2 One billion Syrian Pounds, equivalent to 24.6 million dollars, 20% of which was paid upon establishment and the rest within three years. Investments in the new company will be inclusive to various economic sectors, import and export business, services and consulting, management of commercial, service, tourism and agricultural projects. In addition to investing, developing, and participating in them, also to purchasing, selling, leasing of real estate, as well as construction, contracting, undertaking, and investments of all kinds, and trading and distributing all kinds of materials and equipment. It is worth mentioning that the strategic partners own a group of companies with a track record of economic achievements working in different fields (Investment - Real Estate - Urban - Service in addition to charity and community support)
