Damascus, Syria, August 16, 2007: Emaar Syria has completed the Sales Centre of its SYP26 billion (US$500 million) mixed-use development, Eighth Gate.
Eighth Gate is set to redefine the property landscape of Syria through its judicious mix of components. A joint venture between Emaar and IGO, an investment and property development company, the project is located in Yafour, some 15 minutes away from the Damascus city centre.
“Eighth Gate is one of the pioneering developments in Syria, and investor response to the project has been overwhelming,” said Dr Nader Mohammed, Regional Managing Director, Emaar International. “We have been streamlining the enquiries and now with the opening of the Sales Centre, the first of its kind in Syria, potential investors can assess the various features of Eighth Gate first-hand and arrive at informed decisions.”
The project is inspired by the legendary seven gates that were access points to Syria’s rich civilization. A signature tall gate marks the access to the main plaza. The project is divided into three zones – Commercial Centre, Waterfront and Residential.
Dr Anas Kozbari, CEO of IGO added: “We are pleased to partner with Emaar in developing an inspiring development such as Eighth Gate. The project will recreate Syria’s ancient heritage yet at the same time offer modern day community living. The launch of the Sales Centre now offers Syrians the opportunity to learn more surrounding the upcoming project.”
Mr Sarhad Haffar, General Manager, Emaar Syria, said: “The Eighth Gate Sales Centre showcases the various facets of the entire project including the shopping mall, which will be one of the largest shopping malls in the region. The master-planned community will also have several amenities inspired by the architectural styles of Damascus, along with interconnected courtyards.”
Potential investors can visit www.emaarsyria.co.sy to register their interest.
Emaar’s expansion into Syria is in line with its Vision 2010 to become one of the most valuable companies in the world. The company today has a significant presence in 36 markets globally and has also diversified into education, healthcare, malls, finance, and hospitality & leisure.
