Known Also As: Damascus Cham for Management LLC; Damascus Cham Management Co. LTD.; Damascus Cham Management One-Person Co. LTD.
Country: Syria
Address: Marota City, Eastern Villas, Mazeh, Damascus 096311, Syria
Organization Established Date: 2018;
Organization Type: Real estate activities with own or leased property;
Activities:
OFAC has designated Damascus Cham for Management LLC, the executive management entity of Damascus Cham Holding Company.
Damascus Cham for Management LLC is being designated pursuant to E.O. 13573 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Damascus Cham Holding Company.
Damascus Cham Holding Company has created a series of joint ventures and has facilitated the flow of private investment into the development of expropriated land. Contributing only in-kind assets (seized land), the Governorate of Damascus has depended on regime-friendly businessmen for financing, allowing private investors in Syria to profit heavily from luxury developments built on land confiscated by the Syrian regime from its own people. In each of these joint ventures, Damascus Cham Holding Company’s share of the profits is granted to the Governorate of Damascus. Damascus Cham Holding Company is being designated pursuant to E.O. 13573 for being an agency or instrumentality of the Government of Syria, or owned or controlled, directly or indirectly, by the Government of Syria or by an official or officials of the Government of Syria.
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