Our Portfolio

AlShall Syria manages a diversified portfolio of companies and strategic investments across key sectors. Our focus spans institution building, project execution, and sector innovation within Syria and beyond. Rooted in Syria’s renewal, our investment thesis positions us as a bridge for capital and expertise shaping the country's next economic chapter.

Our track record goes beyond investments—we originate, structure, and enable projects through in-depth studies and strategic coordination. All initiatives are developed in close collaboration with AlShall Group (Kuwait) and a curated network of subject matter experts, associates, and specialized firms.

Cham Bank

Founding a National Financial Institution

AlShall Syria
At the request of the Commercial Bank of Kuwait, the Islamic Development Bank, and other prominent regional financial institutions, AlShall Syria played a foundational role in establishing Cham Bank—Syria’s first Islamic financial institution. This was carried out in close collaboration with AlShall Company in Kuwait, which led a comprehensive feasibility study and coordinated the placement for regional founding shareholders.

Our scope of work included preparing the feasibility study mandated by the Central Bank of Syria, submitting the official banking license application, and managing the full IPO process—executed by Ernst & Young. We also oversaw staff training and facilitated the acquisition of the banking system required to commence operations.

AlShall led the IPO coordination, spearheaded the bank’s launch, and held key leadership roles during its first two years, including setting up governance structures. Cham Bank remains one of Syria’s most active and successful banks, with AlShall continuing to hold a stake in the institution.

Website: https://chambank.com/en/

worm's-eye view photography of concrete building

Knowlgica – Knowledge Solutions & Tech

AlShall Syria is a major shareholder and innovation leader in virtual learning and technical advisory. Through Knowlgica, the company delivers scalable e-learning solutions for academic and professional institutions, while expanding into digital utilities, infrastructure consulting, and capacity-building platforms.

in addition to to establishing a virtual platform in the UK to learn Arabic for non Arabic speakers

CEO: Dr. Hassan Risha

Website: https://www.knowlgica.com

International Medical Centre (IMC)

AlShall Syria – Healthcare Venture Development

AlShall Syria led the development of a flagship healthcare project in partnership with IMC Holding (Kuwait), Dr. Rafic Kuzbari, and Dr. Fayez Takieldin, in collaboration with AlShall Company (Kuwait). The project aimed to establish an international-standard medical facility, initially valued at approximately $70 million. AlShall’s scope included the feasibility study, site selection and acquisition, zoning, and managing the full design process.

Although the project was placed on hold due to the onset of the Syrian revolution, IMC Syria, in coordination with IMCH Kuwait, is currently reassessing its potential. Efforts are underway to restructure and revive the venture, with the aim of making it available to healthcare investors. All feasibility studies, detailed engineering plans, and technical preparations have been completed—positioning the project for immediate reactivation.

white concrete building near green trees and body of water during daytime

Rasyat Holding – Cross-Border Residential Master Plan (Ongoing)

aerial view of city buildings during daytime

As an advisor to Rasyat Holding, a Kuwaiti company and the property owner, AlShall Syria is leading the rezoning and master planning of a proposed residential village on approximately 1.4 million square meters of land near the Syrian–Lebanese border. The site is suitable for the development of four residential communities. The scope of work includes urban zoning, legal due diligence, comprehensive master planning, site activation, and investment packaging. The project is fully entitled and investment-ready, offering a strategic opportunity for real estate developers. AlShall Syria welcomes expressions of interest from local and regional investors to participate in shaping this suburban community.

AlShall Syria – Heritage Hospitality Investment
AlShall Syria is a co-founder and shareholder in Orient Company, the owner of Bait Zaman, a five-star boutique hotel located in the heart of Old Damascus. Bait Zaman is a heritage hospitality landmark, offering guests an authentic Syrian experience amid the rich cultural and architectural legacy of the old city.

Orient Touristic Company

Website: http://www.beit-zaman.com/

green trees and green grass field during daytime

Real Estate Development

AlShall Syria – Real Estate Development
AlShall Syria’s real estate division leads the development of a diverse range of residential and commercial assets. Our portfolio includes a 1.4 million square meter master-planned suburban residential community (on behalf of Rasyat Company), the Cham Bank Headquarters in Damascus (including restoration, renovation, furnishing, and equipment), AlShall’s own offices and commercial properties, as well as residential developments in Yafour, Ruken Al-Din, and the greater Damascus suburbs.

This breadth of work reflects our capability to manage full-cycle real estate development across various scales—from private mansions to workforce housing, and from institutional commercial projects to large-scale urban planning initiatives.