UAE’s Arada Plans $7bn New Damascus Megaproject In Syria

Dubai (PlantAndEquipment.com) - Arada, a UAE-based developer, has teamed with the Syrian Sovereign Fund to build a mixed-use project in New Damascus for AED25.7 billion ($7 billion).

The construction will cover four million square meters west of Damascus and comprise around 11,000 residential units.

Plans also include a 700,000-square-metre public park, 500 hotel rooms, 1,000 serviced apartments, 5,000-student schools, and a 300-bed hospital, in addition to offices, retail, commercial space, and government buildings.

The master plan is being prepared with Syrian government officials and will include parts of Arada's Aljada and Masaar projects in the UAE.