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UAE’s Arada Signs $7 Billion Real Estate Deal in Syria
🇦🇪 United Arab Emirates /Economy & Trade

UAE’s Arada Signs $7 Billion Real Estate Deal in Syria

From Gulf Today · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • UAE-based Arada Group and Syria’s Sovereign Fund signed an agreement for a $7 billion real estate development covering four million square meters.
  • The planned project includes residential, hospitality, entertainment, educational and healthcare facilities, and represents Arada’s first venture in Syria.
  • Officials said the development could include housing for camp residents and people whose homes were destroyed by conflict, alongside a proposed “New Damascus” built around the 15-minute-city concept.

Arada Group is entering Syria with a $7 billion real estate project that officials describe as both a major investment and a response to humanitarian needs.

The UAE-based developer and Syria’s Sovereign Fund formalized the agreement on Monday. The four-million-square-meter project is planned to include residential complexes, hospitality venues, entertainment facilities, educational institutions and healthcare services. It will be Arada’s first project in Syria.

House for House

— Ahmed Al KhashibiThe Arada chief executive described the company’s global housing initiative for refugees, which he hopes to extend in Syria under a new name.

Mazen Al Salhani, chairman of the fund’s board, highlighted plans for sustainable residential cities for people currently living in camps and those whose homes were destroyed in the conflict. The proposal presents that housing component as a new model for development in Syria.

Arada chief executive Ahmed Al Khashibi said the company’s “House for House” initiative, which provides housing for refugees globally, could be extended to Syria as “City for City” in cooperation with the sovereign fund. Mohammed Al Khayyat, who leads the fund’s real estate development sector, described the related “New Damascus” project as based on the 15-minute-city concept, allowing residents to reach daily services, healthcare and recreation within a short walk.

City for City

— Ahmed Al KhashibiThe proposed name for extending Arada’s refugee-housing initiative to Syria.
About this summary

Originally published by Gulf Today in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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