New Damascus Project: 7 Billion Dollars and 11 Thousand Residential Units West of Damascus

The real estate development sector in Syria is witnessing a remarkable step with the announcement of the New Damascus Project, an integrated urban development project west of the capital Damascus, with an investment value of approximately $7 billion. The project comes as part of an agreement signed by the Syrian Sovereign Fund with the UAE-based "Arada" real estate development group. This marks the first entry of "Arada" into the Syrian market and is one of the most prominent indicators of Syria's openness to international real estate investments in the reconstruction phase.

In this article, we review the main details of the New Damascus Project: its location, area, key figures, types of units and planned facilities, as well as the parties to the agreement, officials' statements, and what the project may mean for the real estate market in Damascus in the future.

What is the New Damascus Project?

The New Damascus Project is an integrated mixed-use real estate development project, signed by the Syrian Sovereign Fund and the UAE-based "Arada" group, with a total development value estimated at about $7 billion, spanning an area of approximately 4 million square meters. The project aims to establish an integrated city combining residential units, hospitality, education, healthcare, commerce, as well as government services and green spaces.

This is the first project for "Arada" in Syria, as part of its expansion into new markets in the region. The group currently manages a global project portfolio valued at around $42 billion, including more than 66,000 residential units in the UAE, the UK, and Australia.

The project comes at a time when real estate in Damascus is witnessing the emergence of new development projects and expansion in several urban areas within the capital and its surroundings.

Where is the New Damascus Project located?

The New Damascus Project is located on a plateau west of Damascus, near the Al Mazzeh area, about 10 minutes from the city center and around 25 minutes from Damascus International Airport. This strategic location gives the project direct proximity to the heart of the capital with easy access to and from the airport, making the location of New Damascus one of the factors to be closely monitored as implementation begins.

New Damascus Project in Numbers

Below are the key officially announced figures for the project:

What types of properties are planned in New Damascus?

The planned residential units in the New Damascus Project include a variety of property types, as the project comprises about 11,000 residential units distributed among:

• Residential apartments

• Villas

• Townhouses

• Branded residences

So far, no detailed areas or prices for these units have been announced, and this section will be updated as soon as any additional official details are released.

Services and Facilities in the New Damascus Project

The design of the New Damascus Project is based on the idea of a fully serviced city, with the master plan including a wide range of facilities, most notably:

• Healthcare: A hospital with 300 beds.

• Education: Educational facilities for about 5,000 students.

• Hospitality: 500 hotel rooms and 1,000 hotel apartments.

• Commerce and Offices: Office buildings and commercial/retail spaces.

• Government Services: Buildings dedicated to government services.

• Parks and Entertainment: A public park of 700,000 square meters, along with entertainment areas.

What does the "15-minute city" concept mean in New Damascus?

Mohammad Al Khayyat, Board Member and CEO of the Real Estate Development Sector at the Syrian Sovereign Fund, confirmed that the New Damascus Project will be built according to the "15-minute city" concept. This planning concept, adopted in several global cities, is based on designing neighborhoods so that residents can access most of their daily needs—education, healthcare, shopping, entertainment—within 15 minutes on foot or a short distance from their homes, instead of relying on long commutes across the city.

Applying this concept in New Damascus essentially means distributing educational, healthcare, commercial, and entertainment facilities evenly throughout the project, so that every residential area is close to the essential services its residents need.

Who is the Arada company developing the New Damascus Project?

"Arada" Group is a UAE-based real estate development company founded in 2017 and headquartered in Sharjah. The group currently manages a global project pipeline valued at about $42 billion, including more than 66,000 residential units distributed among the UAE, the UK, and Australia, in addition to the New Damascus Project, which represents the group's first entry into the Syrian market.

What did officials say about the New Damascus Project?

The signing of the agreement was accompanied by statements from several officials involved from both the Syrian and Emirati sides:

• Mazen Al Salhani, Chairman of the Syrian Sovereign Fund: He indicated that the agreement includes a humanitarian aspect represented by building parallel and sustainable residential cities provided by "Arada" for camp residents and owners of demolished homes, in what he described as a first-of-its-kind initiative in Syria.

• Ahmad Al Khoshaibi, CEO of "Arada" Group: He spoke about the group's aspiration to bring its real estate development expertise to Syria and expand its "Home for Home" initiative—which has provided homes for refugees worldwide—into Syria under a new name, "City for a City."

• Mohammad Al Khayyat, CEO of the Real Estate Development Sector at the Syrian Sovereign Fund: He explained that the project is based on the "15-minute city" concept and considered the partnership with "Arada" an indicator of Syria's openness to the global business community, as part of new urban expansion west of Damascus.

• Prince Khaled bin Alwaleed bin Talal Al Saud, Executive Vice Chairman of "Arada" Group: He spoke about Syria entering a pivotal stage that opens the door for reconstruction and long-term investment, including job creation, skills development, and support for Syrian companies.

The "City for a City" Initiative and Housing Linked to Reconstruction

In addition to the investment aspect of the project, the agreement between the Syrian Sovereign Fund and "Arada" Group includes a humanitarian dimension related to reconstruction. The Syrian News Agency "SANA" reported the existence of an initiative to establish parallel and sustainable residential cities aimed at camp residents and owners of demolished homes. This initiative, called "City for a City," builds on the previous "Home for Home" initiative by "Arada," which provided homes for refugees in other parts of the world.

How can the New Damascus Project affect the real estate market?

The potential impact of the New Damascus Project on the Damascus real estate market can be viewed from several angles:

• Introducing about 11,000 new residential units to the future market supply.

• Creating a new urban center west of the capital, relatively close to the city center.

• Bringing the concept of integrated mixed-use communities on a relatively large scale compared to previous projects in Damascus.

• Attracting a major foreign real estate developer with an international project portfolio, which may open the door for other developers.

• Increasing investment and urban interest in the western axis of Damascus.

However, it cannot be said with certainty that the project "will raise property prices" in its vicinity. More accurately, the project may impact the map of demand and real estate development in west Damascus in the long term, but its actual effect on land and property prices in the surrounding area will depend on the follow-up of implementation stages on the ground, accompanying infrastructure, and the timing of unit launches and prices when officially announced.

These developments can be compared with the indicators of property prices in Damascus to understand the current market situation before the actual impact of the project on supply and demand appears.

Have sales of New Damascus properties started? What about prices?

As of September 1, 2026, the relevant authorities have not officially announced the prices of residential units in the New Damascus Project, nor have detailed areas for the different unit types been published. Payment plans or the launch date for sales have also not been announced. Similarly, no final timetable has yet been issued regarding the start of construction and delivery dates.

This section will be updated as soon as any new official information about prices or launch plans is released.

Why is the project a significant milestone for real estate investment in Damascus?

The New Damascus Project represents a remarkable milestone in the path of real estate investment in Damascus for several combined reasons: the large investment volume of nearly $7 billion, the entry of an international real estate developer the size of "Arada" Group managing a global project portfolio, the diversity of uses within the single project—residential, commercial, healthcare, educational, and hospitality—as well as its strategic location west of Damascus and proximity to the city center. These elements together, as the project progresses through implementation stages, may contribute to the formation of a new urban area with significant weight on the real estate map of Damascus.

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