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Emaar Syria: Lending impetus to the country's growth

Emaar Syria, the country subsidiary of Dubai-based global property developer Emaar Properties PJSC, is energizing the Syrian economy through its master-planned project that creates employment opportunities

One of the prominent foreign direct investors in Syria's property sector, Emaar Syria marks the geographic expansion of Emaar Properties in line with its Vision 2010 to become one of the most valuable companies in the world. To fuel its growth in the country, Emaar Syria has joined hands with IGO, an offshore investment and property development company.

Specialized in master-planned communities, Emaar-IGO has unveiled The Eighth Gate, a mixed-use SYP26 billion project. One of the first mixed-use master-planned communities in Damascus, The Eighth Gate redefines the lifestyle experience. Featuring three components: a Waterfront, Touristic Area and Commercial Centre and one of the largest shopping malls in the region; The Eighth Gate is now progressing on schedule following the project's ground breaking mid-2006.

Located in Yafour, some 15 minutes away from the Damascus city centre, The Eighth Gate is set to redefine the property landscape of Syria through its judicious mix of commercial, leisure and retail components. The project takes its inspiration from the legendary seven gates that were access points to Syria's rich civilization. A signature tall gate marks the access to the main plaza.

Creating a new experience in retail real estate, The Eighth Gate will have one of the largest shopping malls in the Levant region. The mall has been designed by an international designer with extensive expertise in developing spectacular lifestyle shopping destinations.

Emaar recently launched the sale of offices mid rise buildings within the Commercial Centre of The Eighth Gate to strong investor response. Emaar-IGO has also completed a modern Sales Centre, which drives the sales process with Emaar sales executives to assist potential investors.

The opening of the sale of the office mid rise buildings within The Eighth Gate Commercial Centre was advanced to meet investor demand and also to set in motion a strong business environment in Yafour. The leisure and retail environments are expected to be unveiled soon in line with Emaar's goal to have a self-sustaining living and business environment at The Eighth Gate.

The Commercial Centre will also comprise the Damascus Stock Exchange building, a 30-storey office tower and low-rise commercial offices. The elegantly designed commercial centre features Arab architectural elements and offers a floor area of 1,510 sq m on each level. Potential investors can purchase entire floors or demarcated office spaces.

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