Syria’s new leadership launched a national reconstruction fund Thursday with a high-profile event at Damascus Citadel, pledging to rebuild the war-torn country and improve citizens’ lives after the fall of Bashar Assad’s regime last December.
The Syrian Development Fund was unveiled at a ceremony broadcast live across the country and shown on large outdoor screens in provincial centers. At the heart of the fundraiser: four luxury cars once owned by the ousted president, put up for auction to raise money for rebuilding projects.
Cars from Bashar Assad’s vast collection auctioned
President Ahmad al-Sharaa opened the event by highlighting the symbolism of hosting it at the medieval fortress in Damascus, a site seized by rebels in the campaign that toppled Assad.
“There is a beautiful meaning in holding this event at Damascus Citadel,” al-Sharaa said. “We stand on the precipice of a new phase — the phase of construction and rebuilding — where we write Syria’s new history with our own hands, our own money and our own efforts. The previous regime destroyed our economy, looted our wealth, demolished our homes and scattered our people into camps.”
Al-Sharaa said the new fund would focus on bringing displaced Syrians back to their communities and restoring farmland. “We are not here to beg for charity for Syria,” he said. “We are here to remind ourselves and you of the duty of this moment. The fund will be transparent, and the money will go to strategic projects.”
In a surprise announcement, organizers revealed that four cars from Assad’s vast collection would be auctioned, including a Mercedes SL 65 AMG and a Ferrari F50. Officials said the vehicles, valued at about $20 million, were being “returned to the people.”
By the end of the evening, the campaign had raised $61 million, with contributions from families, private donors and government ministers. First Lady Latifa al-Droubi pledged $5,000 of her own funds.
Safwat Raslan, the fund’s director, hailed the event as “an unprecedented national launch.” He said: “We are at the beginning of a new stage: rebuilding after destruction. With your support, the fund will become a symbol of transparency and stability.”