Biden's inauguration revives the real estate business in Kobane
Shafaq News / After being suspended for more than a year due to Turkish threats to launch an attack on Kobane following its occupation of Tell Abiad and Ras Al-Ayn, the city's urban activity returned, and the companies began to complete their construction projects as safety and stability prevailed the region’s scene after John Biden won the presidency of the United States.
The urban movement resurrected in the city after 70% of it was destroyed due to the war against ISIS. The city expanded significantly, and new neighborhoods were established in the city’s western and southern parts after the return of displaced people and the Global Coalition positioning in the region during the years 2015-2018. However, this movement stopped after Turkey occupied cities in northern Syria.
Hamza Ayoub, the owner of a real estate trading and construction company in Kobane, told Shafaq News agency that the remarkable stability in the region and the cessation of Turkish threats spurred them to resume their business, noting that most companies have returned to work.
Ayoub said that the work would expand in the coming days, adding that this is related to "how serious the United States is in supporting the security and stability of the region".
Hamza pointed out that the economic movement in the region recently relies on the real estate market after agriculture. He added that buying and selling, in addition to construction, employs many workers and provides jobs for hundreds of people.
Tawfiq Abdullah, head of a construction workshop in the area, told Shafaq News agency that they are tailing the schedule most of the time due to the loss of cement and iron materials. He attributed this to the closure of crossings between the self-administration and areas outside it - whether the Syrian regime or the areas of the Syrian factions loyal to Turkey.
Tawfiq explained that the rise in the exchange rate of the U.S. dollar against the Syrian Lira also affected the price of materials. He explained that the price of a ton of iron reached 700 U.S. dollars, and this hinders the construction work due to the deteriorating economic conditions of the people - especially after the exit of international organizations from the city and the Turkish threats that stopped the construction and expelled the workforce from the area.
Although The Policy of U.S. President John Baden towards "Rojava" and North-Eastern Syria is not clear yet, his victory has instilled reassurance and hope in the region’s people, especially Kobane’s residents.
