RIYADH: Saudi Arabia has launched a $100 million real estate project in Damascus, signaling renewed economic cooperation with Syria and growing investor interest in the country’s reconstruction phase.
The announcement was made during the Syrian-Saudi Investment Forum and Saudi Minister of Investment Khalid Al-Falih laid the foundation stone, marking a renewed phase of economic cooperation between the two nations.
Developed with support from the Saudi Ministry of Investment and backed by Ethraa Holding, the mixed-use tower will span 25,210 sq. meters and combine office, hospitality, and retail components. The project forms part of Saudi Arabia’s broader engagement in Syria’s urban redevelopment efforts.
Located in Damascus, Al Jawhara Tower will include 15 floors of hotel units and 15 floors of office space, each with a built-up area of 6,500 sq. meters.
The development will also feature 1,300 sq. meters of retail space, along with four levels of underground parking spanning 2,400 sq. meters. A panoramic restaurant overlooking the city is also planned as part of the hospitality offering.
