Damascus, Syria, August 22, 2007: Emaar Syria, the wholly owned subsidiary of Dubai-based Emaar Properties, will launch the sale of office towers within the Commercial Centre of Eighth Gate on August 23.
The mixed-use SYP26 billion (US$500 million) Eighth Gate project is being developed by Emaar-IGO, a venture between Emaar Syria and IGO, an offshore investment and property development company. Emaar-IGO has also completed a modern Sales Centre, which will drive the sales process with Emaar sales executives to assist potential investors.
Located in Yafour, some 15 minutes away from the Damascus city centre, Eighth Gate is set to redefine the property landscape of Syria through its judicious mix of commercial, leisure and retail components.
“The opening of the sale of the office towers within the Eighth Gate Commercial Centre has been advanced to meet investor demand and also to set in motion a strong business environment in Yafour,” said Dr Nader Mohammed, Regional Managing Director, Emaar International. “The leisure and retail environments will be unveiled soon. Our goal is to have a self-sustaining living and business environment at Eighth Gate.”
Dr Anas Kozbari, CEO of IGO added: “We are pleased to be working with Emaar in developing a community of this quality. Eighth Gate will recreate Syria’s ancient heritage but in a modern context. The launch of sales signals the start of a new era in Syria – the introduction of master planned communities.”
The elegantly designed buildings featuring Arab architectural elements will offer a floor area of 1,510 sq m on each level. Potential investors can purchase entire floors or demarcated office spaces. The Commercial Centre will also comprise the Damascus Stock Exchange building, a 30-storey office tower and low-rise commercial offices.
Mr Sarhad Haffar, General Manager, Emaar Syria, said: “The Commercial Centre of Eighth Gate is set to become the true business hotspot of Syria. The strategic location on Damascus Beirut highway and the rich spread of amenities to be offered will make Eighth Gate a new commercial nerve centre. The office buildings that are being launched will have world-class facilities including hi-speed telecom and Internet links, and support systems that are vital for modern-day businesses.”
Eighth Gate 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 Touristic Area.
Potential investors can visit the Eighth Gate Sales Centre, call (+963) 9660 88888 or visit www.emaarsyria.co.sy for further details.
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.
