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Construction of Damascus Stock Exchange Building in The Eighth Gate crosses half-way mark

  • Work on office buildings and infrastructure also ongoing
  • Transport network to The Eighth Gate under construction

Damascus, Syria; June 28, 2009: Emaar-IGO, a venture between Emaar Syria and IGO, has made rapid progress on the construction of the Damascus Stock Exchange building, a key component of the Commercial Centre of The Eighth Gate, with more than 50 per cent work already over.

Emaar-IGO is also progressing on the infrastructure work of the project, especially the external and internal roads. Construction of a modern road network that connects Damascus to The Eighth Gate is being undertaken. The new network scheduled for completion end of 2009, will feature three tunnels and a bridge, which will enhance ease of access to the country’s new and emerging financial centre.

A commercial community, The Eighth Gate will feature three key components – the Commercial Centre, Touristic Area and Waterfront. The Commercial Centre is envisaged as the new financial hub of Syria, featuring the Damascus Stock Exchange building.

The construction of office buildings in the Commercial Centre is also ongoing. Leading Syrian and international contractors are undertaking the work to the world-class standards envisaged by Emaar.

Mr Sarhad Haffar, General Manager, Emaar Syria, said: “We are currently focusing our energies on the on-schedule completion of The Eighth Gate, which has gained strong investor response not only from Syria but internationally too. One of the key aspects of the project is the Commercial Centre featuring the Damascus Stock Exchange Building, scheduled to be operational next year. We have crossed the half-way landmark in the construction of the Damascus Stock Exchange building.”

Located in Yafour and easily accessible from Damascus, The Eighth Gate builds on the ancient history of Damascus in its architectural style of ornately decorated buildings influenced by traditional design. A signature tall gate marks the access to the main plaza of the project. The project will also feature a high-end shopping mall, which is billed to be the largest in the country. All commercial office buildings feature Arab architectural elements and have large floor space and are quipped with hi-speed Internet and entertainment connectivity.

Potential investors can visit the Sales Centre for more details on The Eighth Gate.

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