The Syrian Sovereign Fund, in partnership with the UAE’s Arada Group, has launched “City for a City,” a pioneering model in Syria that links major investment projects with direct, long-term social impact.
Under the model, each major investment project is paired with a parallel development contribution designed to support communities most in need. At the same time, the model is intended to generate employment and stimulate local economic activity, positioning communities not simply as beneficiaries, but as partners in the value created by investment.
In its first phase, the model will support camp residents and owners of destroyed homes through the development of new, sustainable residential communities alongside the investment project. This represents a shift from rebuilding assets to rebuilding communities, with a focus on creating lasting economic and social value. The approach draws on Arada Group’s “House for a House” initiative, previously implemented to support refugees in a number of countries around the world.
The Syrian Sovereign Fund will soon announce the full details of the first city to be developed under the “City for a City” model, including its location, key components and implementation phases, as well as beneficiary categories, the project timeline and official launch date.
Mazen Al-Salhani, Chairman of the Board of the Syrian Sovereign Fund, commented:“Syria today is looking not only for capital that rebuilds assets, but for investment that creates lasting and sustainable social and economic impact. For us, responsible investment is an essential part of rebuilding society, going far beyond the restoration of physical places. We see major projects playing a broader role in Syria’s future, serving as engines of growth, employment and opportunity while ensuring that the benefits they generate reach a wider segment of the population.”
He added:“We aim to incorporate this approach into the Fund’s major projects, making social impact a core consideration alongside financial and economic viability. Our ambition is to move from investment to impact, and we hope to see investors and development partners across Syria embrace this approach and play a greater role in creating opportunities and strengthening the communities around their projects.”
For his part, Mohamed Al-Khayyat, CEO of the Real Estate Development Sector at the Syrian Sovereign Fund, explained that the economic impact of major projects does not stop at the boundaries of the project itself, but extends to a wide range of related sectors, services, and professions.
Al-Khayyat said: “Attracting companies with global expertise does more than deliver new developments. It raises the bar for Syria’s market by introducing new standards, capabilities and knowledge. These investments generate direct and indirect employment, increase demand for local talent and services, and create more competitive wages and career opportunities. They can also help create the conditions for Syrian talent to return home, bringing valuable international knowledge and experience back to the local market. Our goal is for Syrians to play an active role in these investments, not simply benefit from them, through employment, training and knowledge transfer, while local companies, suppliers and communities become part of the value chains that major investments create.”
The launch of the model coincides with its first application under the “New Damascus” agreement between the Syrian Sovereign Fund and the UAE’s Arada Group, valued at approximately $7 billion and covering an area of four million square meters, marking the group’s first project inside Syria. The project comprises 11,000 residential units, alongside hospitality, entertainment, education, and healthcare sectors, and applies the “15-minute city” concept, giving residents access to daily needs and services within a short distance.
Arada manages a broad international portfolio of projects. At the announcement of “New Damascus,” the group affirmed its intention to bring its expertise to the Syrian market and expand its earlier social initiative, “House for a House,” in partnership with the Syrian Sovereign Fund, into what has become, in Syria, “City for a City.”
