"UAE's 'Arid' Plans $7 Billion Real Estate Project in Syria"

The agreement with Arada comes at a time when Syria is seeking to strengthen its ties with the United Arab Emirates, which has moved at a slower pace than other Gulf states in bolstering relations with the new Syrian government led by President Ahmed al-Sharaa.

Damascus is striving to attract foreign investment to support an economy devastated by a war that lasted more than a decade, alongside Western sanctions from which most have been lifted.

Syria has signed deals and memoranda of understanding worth billions of dollars with investors from the Gulf, including companies from Saudi Arabia and Qatar, as well as American firms.