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Home News Arada Launches $7 Billion New Damascus Project in Syria

Arada Ventures into Syria with $7 Billion New Damascus Project

Sep 1, 2026
72 min
14
Sep 1, 2026 07:31
UAE developer Arada enters Syria with $7 billion 'New Damascus' mixed-use project

## Arada's Major Expansion

UAE-based developer Arada is set to embark on a significant international expansion by launching a $7 billion mixed-use development project in Syria. This ambitious venture, named "New Damascus," is being developed in collaboration with the Syrian Sovereign Fund.

## Project Details

The New Damascus project will cover a vast area of four million square meters near Damascus, specifically west of the Mezzeh district. It aims to create a fully integrated community featuring 11,000 residential units, 500 hotel rooms, 1,000 serviced apartments, educational facilities, a 300-bed hospital, and various commercial spaces. Additionally, a 700,000 square meter public park is planned as part of the development.

## Strategic Partnership

Arada's partnership with the Syrian Sovereign Fund, a state-owned entity, is crucial for aligning the project with Syria's reconstruction priorities. The development will draw on Arada's experience from its UAE projects, such as Aljada and Masaar, to create a comprehensive community.

## Broader Implications

This project marks Arada's entry into its fourth international market, expanding its overall project pipeline to $42 billion. The company is also exploring additional development opportunities within Syria, although specific sites have not yet been disclosed.

## Economic Impact

The collaboration is seen as a pivotal moment for Syria, with Arada aiming to contribute to the local economy by creating jobs, developing skills, and supporting Syrian businesses. The Syrian Sovereign Fund, established in 2025, is focused on attracting international investment to generate sustainable economic growth.

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