{
  "id": 4809247,
  "title": "UAE developer Arada enters Syria with $7 billion 'New Damascus' mixed-use project",
  "url": "https://urgent.news/2026/09/01/uae-developer-arada-enters-syria-with-7-billion-new-damascus-mixed",
  "topic": "world",
  "section": "World",
  "published": "2026-09-01T07:11:58.000Z",
  "source": {
    "name": "Gulf News",
    "slug": "gulf-news",
    "url": "https://gulfnews.com/business/property/uae-developer-arada-enters-syria-with-7-billion-new-damascus-mixed-use-project-1.500659060"
  },
  "original_language": "en",
  "account": "Dubai-based real estate firm Arada has announced a $7 billion ($25.7 billion) mixed-use development project near Damascus, marking one of its largest international expansions. The project, named New Damascus, is being developed in partnership with the Syrian Sovereign Fund, a state-owned institution, on a 4 million square meter site west of Damascus, near Mezzeh district. The development will consist of 11,000 homes, 500 hotel rooms, 1,000 serviced apartments, educational facilities, a 300-bed hospital, offices, retail spaces, parks, and government buildings. Arada's master plan aligns with Syria's reconstruction priorities, and construction will be carried out in collaboration with Syrian authorities. The project's scale positions it among large master-planned developments, with residential, hospitality, retail, education, and healthcare components integrated within the community. Arada's CEO, Ahmed Alkhoshaibi, emphasized the project's timing, stating that Syria is at a pivotal moment for reconstruction and investment. The Syrian Sovereign Fund's CEO, Mohammed Al Khayyat, highlighted the significance of the partnership in demonstrating Syria's efforts to attract international investment and create long-term value for the country.",
  "summary": "Dubai: UAE-based developer Arada is entering Syria with a $7 billion (Dh25.7 billion) mixed-use development near Damascus , in one of the company's biggest international expansion moves. Sign up for our daily business newsletter, Cheques & Balances Arada has partnered with the Syrian Sovereign Fund, a state-owned institution, to develop the project on a four million square metre site west of…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The National Business",
        "title": "UAE developer Arada to build $7 billion mixed-use project in Syria",
        "url": "https://urgent.news/2026/09/01/uae-developer-arada-to-build-7-billion-mixed-use-project-in-syria",
        "published": "2026-09-01T06:33:39.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}