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2 clusters · 6 sources · 3 days · First seen · Last updated

Syrian-UAE New Damascus development project

Overview

The Syrian Sovereign Fund and the UAE-based Arada Group have entered into a partnership to develop ‘New Damascus’, a $7 billion mixed-use megaproject. Located on 4 million square meters west of the capital, the development is designed around a ‘15-minute city’ concept and is expected to include approximately 11,000 housing units, such as villas, townhouses, and apartments, as well as a 700,000 square meter public park.

The project includes a humanitarian component aimed at providing sustainable residential cities for displaced populations and individuals whose homes were destroyed. This collaboration represents Arada Group’s first entry into the Syrian market. The two entities are also exploring further development sites throughout the country to support national reconstruction efforts.

Entities

Ahmed Alkhoshaibi · Syrian Sovereign Fund · Damascus · Arada Group · Adra free zone

Timeline

  1. 9 days ago

    [BUSINESS] 3 sources
    Arada and Syrian Sovereign Fund partner for $7bn New Damascus project

    Arada Group and the Syrian Sovereign Fund are launching a $7 billion ‘New Damascus’ development, while Syria’s free zones report 800 signed investment contracts and rising occupancy.

  2. 11 days ago

    [BUSINESS] 4 sources
    Syrian Sovereign Fund and Arada Group announce $7bn New Damascus project

    The Syrian Sovereign Fund and UAE’s Arada Group signed a $7 billion agreement to develop ‘New Damascus,’ a 4-million-square-meter mixed-use city featuring residential, healthcare, and educational facilities.

Sources

bigprojectme.com · bizpreneurme.com · eqtsad.net · halabtodaytv.net · mid-east.info · syrianow.net