UAE Plans $7B Investment Project in Syria

UAE-based Arad Real Estate Development Company has signed an agreement with the Syrian Sovereign Fund to develop a real estate project valued at approximately $7 billion in New Damascus, covering an area of 4 million square meters. The project aims to create a mixed-use urban community that includes housing, hospitality and entertainment facilities, educational and healthcare institutions, as well as commercial and service components. This project is among the largest current real estate investments in Syria and reflects the growing presence of Gulf investments in the Syrian reconstruction and development sector.