In Partnership with the Syrian Sovereign Fund, Arada Enters Syrian Market with $7 Billion Development West of Damascus

Damascus, 31 August 2026: Arada, one of the world’s fastest-growing master developers, has announced its entry into the Syrian market through a joint venture with the Syrian Sovereign Fund to develop an integrated city on a four-million-square-metre site west of Damascus.

The agreement was signed at the Fund’s headquarters in Damascus by Ahmed Alkhoshaibi, Group Chief Executive Officer of Arada, and Mohammed Al-Khayyat, Director of Real Estate Development at the Syrian Sovereign Fund.

Arada’s entry into Syria marks the latest step in its rapid global expansion. The master developer now has a $42 billion portfolio spanning four markets and comprising more than 66,000 homes across the United Arab Emirates, the United Kingdom, Australia and Syria.

Located in the New Damascus area near Mezzeh, the development has an estimated gross development value of $7 billion (AED25.7 billion). The elevated site is approximately 10 minutes from central Damascus and 25 minutes from Damascus International Airport.

The four-million-square-metre master plan will include a 700,000-square-metre central public park and 11,000 homes. The integrated community will also feature educational facilities for 5,000 students, a 300-bed hospital, government service buildings and other amenities supporting residents’ daily needs.

HRH Prince Khaled bin Alwaleed bin Talal Al Saud, Executive Vice Chairman of Arada, said: “Syria is at a pivotal moment in its history, with a significant opportunity to rebuild and invest in its future.

“Over the past decade, Arada has delivered high-quality, large-scale communities across multiple markets and highly complex environments. This gives us a distinctive ability to deliver a project of this scale alongside an ideal partner in the Syrian Sovereign Fund. We are well positioned to share our experience and expertise, working together to create jobs, develop local capabilities, support Syrian businesses and contribute to the growth of the national economy.

“Arada’s success has been shaped by our readiness to invest for the long term and to work with ambitious partners who share our vision for creating exceptional, integrated communities.”

Mohammed Al-Khayyat, Director of Real Estate Development at the Syrian Sovereign Fund, said: “Syria welcomes businesses and companies from around the world, and this partnership with Arada is strong evidence of that. The Syrian Sovereign Fund’s mandate is to attract global investment that creates long-term value for the Syrian people.”