Emirati $7B Project Transforms New Damascus

Arad, the Emirati company, in collaboration with the Syrian sovereign fund, announced the signing of an agreement to develop the "New Damascus" project valued at nearly $7 billion, covering an area of 4 million square meters. The project aims to create an integrated city that includes 11,000 residential units, hotels, hospitals with a capacity of up to 300 beds, schools capable of serving 5,000 students, as well as government centers, services, and recreational areas. The project follows the "15-Minute City" model, enabling residents to access all their daily needs within minutes. It also includes humanitarian initiatives to build residential cities for camp residents and those affected by demolitions. This project marks a significant milestone for real estate investment in Syria and reflects Arad's expansion in the region, with a vision to achieve a balance between quality and sustainability.

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