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UAE-based developer Arada has announced a $7 billion (Dh25.7 billion) mixed-use development on a four million square metre site west of Damascus, in partnership with the Syrian Sovereign Fund.
The project, known as New Damascus, is planned as a fully integrated community. It sits near the Mezzeh district, approximately 10 minutes from Damascus city centre and 25 minutes from Damascus International Airport.
No construction timeline or financing structure was disclosed alongside the announcement.
What New Damascus Will Contain
The masterplan draws on Arada's UAE communities Aljada and Masaar in its model. The planned components span a wide range of uses:
- 11,000 homes: apartments, villas, townhouses and branded residences
- 500 hotel rooms and 1,000 serviced apartments
- Education facilities for 5,000 students
- A 300-bed hospital and healthcare facilities
- Offices, retail and commercial space
- Government service buildings
- A 700,000-square-metre public park
Arada said the masterplan will be developed with relevant Syrian government authorities and aligned with the country's reconstruction priorities.
Also Read: Arada Launches Swiss Cottage Apartments in London
The Partnership Behind the Project
The Syrian Sovereign Fund was established by Presidential Decree in June 2025 with a mandate to manage state assets and attract investment that generates sustainable returns for the national economy.
The agreement was signed in Damascus by Arada Group CEO Ahmed Alkhoshaibi and Mohammed Al Khayyat, Board Member and CEO of the Real Estate Development Sector at the fund.
Al Khayyat said the partnership was intended to demonstrate Syria's openness to international investment.
He added that the fund's purpose is to attract investment that creates long-term value for Syrians and that the company is grateful to Arada for committing at this stage.
Also Read: Arada Launches Dh5bn Twin-Tower Project on Gold Coast
What It Means for Arada's Global Expansion
New Damascus is Arada's entry into a fourth market, following the UAE, UK and Australia. Arada's overall project pipeline is now valued at $42 billion, with more than 66,000 homes across the four countries.
The company said it is also working with the Syrian Sovereign Fund to identify further development sites across Syria beyond the Damascus project.
Prince Khaled bin Alwaleed bin Talal, Arada Executive Vice Chairman, said Syria is at a pivotal moment in its history and that the scale of the opportunity to rebuild is significant.
He described Arada as well-placed to bring its community development experience to bear, creating jobs, building local skills, supporting Syrian businesses and contributing to the local economy.
He added that the company's success has been shaped by a willingness to make long-term investments where others hesitate, with partners who share the vision to create genuine communities.
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