Syrian Sovereign Fund and Arada Group announce $7bn New Damascus project

New Damascus project Syrian Sovereign Fund Arada Group real estate development national reconstruction

The Syrian Sovereign Fund and the UAE-based Arada Group have signed an agreement to develop a $7 billion mixed-use megaproject known as ‘New Damascus’. Located west of Damascus near the Mezzeh district, the development will span 4 million square meters.

The project is designed around the ‘15-minute city’ concept, ensuring residents can access essential services within minutes. The master plan includes residential complexes, hospitality, entertainment, education, and healthcare facilities. Some reports indicate the development will comprise 11,000 housing units.

A notable humanitarian component of the agreement involves building sustainable residential cities for camp residents and individuals whose homes were destroyed. This initiative, described as a ‘city for a city’ model, aims to provide long-term housing solutions for displaced populations. This marks Arada Group’s first venture into the Syrian market.

Entities

Ahmed Al Khashibi · Ahmed Alkhoshaibi · Arada Group · Damascus · Mazen Al Salhani · Mazen Al-Salhani · Syrian Sovereign Fund

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] The agreement includes a humanitarian component to build sustainable residential cities for camp residents and owners of destroyed homes. www.eqtsad.net · www.syrianow.net · halabtodaytv.net
[○ 1 SOURCE] The project will include 11,000 housing units. www.syrianow.net
[● 3 SOURCES] The project follows the ‘15-minute city’ concept. www.eqtsad.net · www.syrianow.net · halabtodaytv.net
[● 4 SOURCES] The project covers an area of 4 million square meters. www.eqtsad.net · www.syrianow.net · halabtodaytv.net · mid-east.info
[● 4 SOURCES] The development will include residential complexes, hospitality, entertainment, education, and healthcare facilities. www.eqtsad.net · www.syrianow.net · halabtodaytv.net · mid-east.info
[● 4 SOURCES] The Syrian Sovereign Fund and the UAE-based Arada Group signed an agreement to implement the ‘New Damascus’ real estate development project. www.eqtsad.net · www.syrianow.net · halabtodaytv.net · mid-east.info
[● 4 SOURCES] The project is valued at approximately 7 billion dollars. www.eqtsad.net · www.syrianow.net · halabtodaytv.net · mid-east.info

Sources

دمشق الجديدة بـ 7 مليارات دولار. . ماذا نعرف عن مشروع أرادَ في سوريا؟ [www.eqtsad.net]

11 days ago

الصندوق السيادي يوقع اتفاقية لتطوير مشروع دمشق الجديدة [halabtodaytv.net]

10 days ago

الصندوق السيادي وشركة أرادَ الإماراتية يوقعان اتفاقية سكنية بسبعة مليارات دولار في دمشق [www.syrianow.net]

11 days ago

Arada enters Syria via partnership with Syrian Sovereign Fund to develop $7bn mixed-use megaproject in New Damascus - Middle East Business News and Information - mid-east. info [mid-east.info]

10 days ago