Private sources have revealed to "Zaman Al-Wasl" that the memorandum of understanding for the establishment of a massive media complex—dubbed "Damascus Media Gateway"—has been canceled, as part of a corrective course of action currently being pursued by the state.
Initially framed as a major investment project with an estimated value of approximately $1.5 billion, the agreement was signed on June 30, 2025, amid significant media fanfare and support from various activists.
The project—which enjoyed presidential patronage, featured a formal ceremony at the Presidential Palace, and was allocated a vast 2-million-square-meter plot of land—has ultimately stalled and been permanently halted. Sources attribute this cancellation to the persistent delays by the Kuwaiti investor, Mohammed Sami Al-Enezi—owner of the "Al-Maha" company—over the course of more than a year and a half, as well as his complete inability to secure the funding necessary to bring the project to fruition.
- An "On-Paper" Investment Lacking Financial Solvency
Information indicates that Al-Enezi faced deep-seated financial difficulties, including the accumulation of outstanding debts and obligations owed to Syrian artists—none of which were settled. This situation has sparked widespread discontent within artistic circles and among observers of economic affairs. Critics have leveled sharp reproaches at the evaluation processes, questioning how a strategic agreement of such magnitude could have been concluded without subjecting the investor to rigorous due diligence to uncover his credit history and past financial failures. Estimates suggest that the agreement was used purely for promotional and marketing purposes; the investor appeared in video interviews (podcasts) discussing his meeting with the Syrian president and promoting the project through media channels.
The individual in question attempted—to no avail—to reach out to banking institutions and business figures to secure funding. These efforts failed completely, as he lacked both genuine financial solvency and the bank guarantees required for projects of such structural scale.
Zaman Al-Wasl
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