Arada partners with Syrian Sovereign Fund on $7 billion joint venture project

UAE-based real estate developer Arada has entered Syria through a joint venture with the state-owned Syrian Sovereign Fund to develop a $7 billion mixed-use project in New Damascus. The development will span four million square metres west of Damascus, near the Mezzeh district, and will include 11,000 homes, 500 hotel rooms, 1,000 serviced apartments, and offices, retail and commercial space. The project will also include a 700,000-square-metre public park, education facilities for 5,000 student