Syrian children in Al Hilal refugee camp near Baalbek, in eastern Lebanon. AFP
Syrian children in Al Hilal refugee camp near Baalbek, in eastern Lebanon. AFP
Syrian children in Al Hilal refugee camp near Baalbek, in eastern Lebanon. AFP
Syrian children in Al Hilal refugee camp near Baalbek, in eastern Lebanon. AFP

Hundreds of thousands of Syrian refugees in Lebanon set to return home with financial incentives


Nada Homsi
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Up to 400,000 Syrian refugees in Lebanon may be set to return home under a UN-backed plan providing financial incentives, according to a document seen by The National.

Under the scheme endorsed by the Lebanese government, thousands have already registered to leave this week aided by $500 for each family, Lebanon’s Social Affairs Minister Haneen Sayed said.

Reuters reported the minister as saying Syrians will be provided with $100 before departing in addition to $400 for each family upon arrival in Syria.

Transport costs are also covered, while border fees and fines for overstaying in Lebanon have been waived, a Lebanese security official, who spoke on condition of anonymity, told The National.

Last week, Lebanon’s General Security Directorate – the country’s primary intelligence body concerned with foreigners – implemented a three-month scheme to waive all fines related to entry and residency violations in a bid to encourage refugees to return to their home countries.

“In a best-case scenario, up to 400,000 Syrians, including 5,000 PRS [Palestinian refugees from Syria], may voluntarily return from Lebanon by the end of 2025,” says a copy of the Lebanon Response Plan seen by The National.

Lorries carry the belongings of Syrian refugees travel from a camp in Arsal, eastern Lebanon, back to Syria, after the Assad regime was toppled last December. AFP
Lorries carry the belongings of Syrian refugees travel from a camp in Arsal, eastern Lebanon, back to Syria, after the Assad regime was toppled last December. AFP

That number would constitute around 25 per cent of Lebanon’s Syrian refugee population. Already, the document said, more than 123,000 Syrians have departed – around 65,000 of whom were verified by the UN refugee agency as having travelled home.

The Lebanese government is prioritising the closure of informal tented settlements – unofficial refugee camps where around 200,000 refugees live, the Lebanese security official told The National.

More than six million Syrians fled their country in the years after 2011 during a 13-year civil war. The vast majority sought refuge in nearby countries Turkey, Lebanon and Jordan.

Lebanon took in the highest concentration per capita, hosting 1.5 million refugees – accounting for around 25 per cent of Lebanon's population.

Returning to Syria was previously viewed as unsafe during the war due to fears of prosecution by the Assad regime. Former president Bashar Al Assad was toppled in December by Islamist insurgents and since taking over, the new government has said all Syrians are welcome home.

Syria is in need of major reconstruction, with much of the country struggling with a lack of basic infrastructure and services such as water and electricity.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs: 2019 Mercedes-Benz C200 Coupe


Price, base: Dh201,153
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Updated: July 10, 2025, 5:29 AM