Dubai Developer Arada Launches $7B New Damascus Mixed-Use Project
Gulf News
Arada partners with Syrian Sovereign Fund to develop $7 billion New Damascus, a large mixed-use community with homes, hotels, and facilities near Damascus.
Arada Expands Internationally with Landmark $7 Billion New Damascus Project
Dubai-based developer Arada is making a bold entry into the Syrian real estate market with an ambitious $7 billion (Dh25.7 billion) mixed-use development called New Damascus. This marks one of Arada's largest international ventures as it partners with the Syrian Sovereign Fund to develop the project on a sprawling 4 million square meter site near the Mezzeh district, just west of Damascus.
A Fully Integrated Community
New Damascus is designed as a master-planned community featuring approximately 11,000 homes alongside 500 hotel rooms and 1,000 serviced apartments. The development will include extensive amenities such as education facilities for 5,000 students, a 300-bed hospital, office spaces, retail areas, parks, and government service buildings.
Arada emphasized that the master plan will align closely with the Syrian government’s reconstruction priorities, reflecting a collaborative approach to support the nation’s recovery. While there is no announced construction timeline or financing structure yet, discussions are ongoing with Syrian authorities to finalize plans.
Prime Location and Extensive Amenities
Strategically located on a plateau just 10 minutes from the Damascus city center and 25 minutes from Damascus International Airport, the site boasts a massive 700,000-square-meter public park. Residential offerings will be diverse, ranging from apartments and villas to townhouses and branded residences.
The scope of New Damascus places it among large-scale master-planned developments rather than isolated residential projects, combining hospitality, retail, healthcare, education, and government functions into a cohesive urban community.
Leveraging UAE Experience for Syrian Growth
This project is Arada’s first step into the Syrian market, broadening its international footprint to four countries including the UAE, UK, and Australia. With a total project pipeline valued at $42 billion featuring over 66,000 homes globally, Arada commented that it is also exploring additional development opportunities within Syria alongside the Sovereign Fund.
According to Arada Executive Vice Chairman Prince Khaled bin Alwaleed bin Talal, Syria stands at a pivotal moment with vast opportunities to rebuild and attract investment. He highlighted that Arada’s expertise in developing integrated communities, such as their UAE projects Aljada and Masaar, will create jobs, nurture local skills, and support Syrian businesses.
"Our organisation is uniquely well-placed to create genuine communities and contribute to the local economy," he said.
Strategic Government Partnership
The agreement was signed by Arada Group CEO Ahmed Alkhoshaibi and Mohammed Al Khayyat, CEO of the Real Estate Development Sector at the Syrian Sovereign Fund. The fund itself was established by Presidential Decree in 2025 with a mission to manage state assets and stimulate sustainable economic returns.
Mohammed Al Khayyat described the partnership as a strong affirmation of Syria’s determination to attract global investments that add long-term value for the Syrian people. "We’re grateful to Arada for their partnership and look forward to projects that showcase Syria’s ambition and resilience," he stated.
Implications for Dubai Real Estate Agents
Arada’s entry into Syria signals increasing interest by UAE developers in international markets recovering from conflict, underscoring the importance of understanding emerging opportunities and cross-border partnerships. For Dubai real estate agents, this highlights the expanding scope of UAE developer activity and the potential for growth in large-scale mixed-use communities. Keeping abreast of such developments can enrich agents’ market knowledge and client advisory capabilities in a global context.
Based on reporting from Gulf News. Summary and analysis by Propilot AI.
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