Syria hopes to attract artists and filmmakers under a $1.5 billion deal with Qatari investors to build a creative quarter known as Damascus Gate.
The deal between Syria's new rulers and Qatari company Al Maha International is the latest in a series of foreign investments since US President Donald Trump lifted sanctions last month. The aim is to establish a "production city" for the media, film and tourism industries.
The plan is "in line with the strategic state policies to attract unique development projects”, Information Minister Hamza Al Mustafa said during a signing ceremony at the People’s Palace in Damascus. President Ahmad Al Shara, who is pushing for foreign investment to help repair Syria's economy after 14 years of civil war, was among the guests.
Mr Al Mustafa said the project, whose full title is City of Damascus Gate, will cover about two million square metres across the Damascus and Damascus Countryside governorates. It will feature outdoor studios designed to replicate the “historical architecture of Arab and Islamic cities”, as well as indoor studios equipped with “the latest broadcasting and production technologies”.
The project aims to become a global production site, including for Syrian and Arab TV channels. It is tipped to create more than 4,000 direct jobs and 9,000 seasonal positions.
Sanctions relief
The lifting of US sanctions on Syria, once a global pariah, is drawing interest from international investors eager to gain a foothold in its economy. Following the US move, the EU also sought to start lifting economic sanctions.
Despite uncertainty over how long it will take for all sanctions to be lifted, with some restrictions waived for only six months, major companies have already stepped in. Announcements include a $7 billion energy deal led by Qatar’s UCC Holding and a $6.5 billion aid pledge from international donors.
Al Maha chairman Mohammed Al Anzi urged “everyone in the Gulf and other countries to take part in this initiative and invest in Syria, where there are real opportunities and generous facilities that can be utilised”. He said he expects the project to be fully completed within five to seven years.
US President Donald Trump announced the lifting of sanctions during his Gulf tour last month, a day before a historic meeting with Mr Al Shara in Riyadh. Mr Trump said he wanted to give the new authorities in Damascus a “chance at greatness”.
Outbreaks of sectarian violence have called into question the new regime's efforts to stabilise Syria. More than two dozen people were killed in a Damascus church bombing this month, the capital's worst such attack in years.
Teachers' pay - what you need to know
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
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Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
The years Ramadan fell in May
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Coal Black Mornings
Brett Anderson
Little Brown Book Group
