Syrian Sovereign Fund launches ‘City for a City’ investment model focused on social impact

The Syrian Sovereign Fund, in partnership with UAE-based Arada Group, has launched “City for a City”, a new investment model designed to link major development projects with long-term social and economic benefits for local communities.

The initiative aims to introduce social impact as a core component of major investments in Syria, with projects expected to contribute to sustainable development while creating employment opportunities and supporting local economic activity.

Under the model, each major investment project will be accompanied by a parallel development contribution intended to benefit communities most in need. The approach seeks to position local communities not only as beneficiaries of investment but also as participants in the economic value generated by new developments.

First phase to support displaced communities and homeowners

The first application of the “City for a City” model will focus on camp residents and people whose homes have been destroyed. It will support the development of new, sustainable residential communities alongside the associated investment project.

The model represents a shift from rebuilding individual assets towards rebuilding communities and creating longer-term economic opportunities.

The concept builds on Arada Group’s “House for a House” social initiative, which has previously been implemented to support refugees in several countries.

The Syrian Sovereign Fund said it will announce further details of the first city to be developed under the model, including its location, key components, implementation phases, beneficiary categories, project timeline and official launch date.

Investment model aims to create jobs and strengthen local economies

Mazen Al-Salhani, Chairman of the Board of the Syrian Sovereign Fund, said the initiative reflects a broader vision for responsible investment that goes beyond rebuilding physical infrastructure.

He said major projects can serve as engines for economic growth, employment and opportunity while ensuring that the benefits of investment reach a wider section of society.

The Fund intends to incorporate the model into its major projects and make social impact an important consideration alongside financial and economic viability. It is also encouraging investors and development partners in Syria to adopt similar approaches.

Mohamed Al-Khayyat, CEO of the Real Estate Development Sector at the Syrian Sovereign Fund, highlighted the wider economic impact that major development projects can have on related sectors, services and professions.

According to Al-Khayyat, attracting companies with international expertise can introduce new standards, capabilities and knowledge to the Syrian market. Such investments can generate direct and indirect employment, increase demand for local talent and services and create new career opportunities.

The model also aims to encourage the participation of Syrian professionals and companies through employment, training and knowledge transfer, while local suppliers and communities become part of the value chains created by major investments.

‘New Damascus’ project becomes first application

The launch of “City for a City” coincides with its first application under the “New Damascus” agreement between the Syrian Sovereign Fund and Arada Group.

The agreement is valued at approximately $7 billion and covers an area of around four million square metres, marking Arada’s first project in Syria.

The planned development includes approximately 11,000 residential units, as well as hospitality, entertainment, education and healthcare facilities. The project will also incorporate the “15-minute city” concept, with residents expected to have access to essential daily services and amenities within a short distance of their homes.

Arada brings experience from a broad international development portfolio and previously announced plans to expand its “House for a House” social impact initiative through its partnership with the Syrian Sovereign Fund.

The new “City for a City” model is intended to build on that approach by connecting large-scale investment with community development, employment and broader economic participation.