Saudi Arabia Launches $100 Million Real Estate Project in Syria
Renewed economic cooperation between Saudi Arabia and Syria is evident as the former invests in Damascus real estate project.
Riyadh: Saudi Arabia has initiated a significant investment into Syria's reconstruction efforts with the launch of a $100 million real estate project, named Al Jawhara Tower.
This development marks a renewed phase in economic cooperation between the two nations, supported by both the Saudi Ministry of Investment and Ethraa Holding.
The mixed-use tower is set to span 25,210 sq.
meters and will integrate office space, hospitality units, and retail components.
The project's layout includes 15 floors dedicated to hotel accommodations, complemented by an additional 15 floors for office spaces, each with a substantial built-up area of 6,500 sq.
meters.
In addition to the commercial offerings, Al Jawhara Tower will feature 1,300 sq.
meters allocated for retail purposes and a four-level underground parking facility covering 2,400 sq.
meters.
A panoramic restaurant providing breathtaking views of Damascus is also part of the planned amenities.
This project signifies the most prominent Saudi-led real estate investment in Syria within recent years, illustrating an increasing interest in the nation's post-crisis recovery and urban development initiatives.