UAE Developer Arada Enters Syria With $7 Billion New City Project

A UAE developer plans to build a new city west of Damascus with an estimated value of $7 billion, making it one of the largest foreign real estate investments in Syria since the country began its post-war reconstruction drive.

Arada entered Syria through a partnership with the state-owned Syrian Sovereign Fund. The project will cover four million square metres in an area known as New Damascus, near the Mezzeh district. It will include a 700,000-square-metre public park.

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at a pivotal moment in its history

The planned mixed-use community will contain 11,000 homes, including apartments, villas, townhouses and branded residences. It will also include 500 hotel rooms, 1,000 serviced apartments, education facilities for 5,000 students, a 300-bed hospital, offices, commercial and retail areas, parks and government service buildings.

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welcomes businesses and companies from around the world

The companies said they are working with Syrian government authorities on a master plan aligned with national reconstruction priorities. They are also identifying additional development sites across the country. The project expands Arada’s pipeline to four markets, the UAE, the UK, Australia and Syria, with a combined value of $42 billion and more than 66,000 homes.

Arada Executive Vice Chairman Prince Khaled bin Alwaleed bin Talal said Syria was “at a pivotal moment in its history.” Syrian Sovereign Fund executive Mohammed Al Khayyat said the partnership reflected the fund’s mandate to attract investment that creates lasting value for Syrians.

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the ambition and resilience of the Syrian people