Dubai, United Arab Emirates –   Emaar Properties PJSC, listed on the Dubai Financial Market under the symbol ( EMAAR ), one of the world’s leading and most valuable real estate development companies, announced today that it is finalizing the joint venture model associated with “The Eighth Gate”, its flagship integrated project in Yaafour, Damascus, thus beginning a new chapter in its long-standing relationship with Syria, where the company will continue its operations in the country independently without any partner.

The “Eighth Gate” project was launched in 2005 as the first integrated complex with a master plan in Syria, with investments amounting to US$500 million, and an area covering 300,000 square meters in the Yaafour area, 22 kilometers from the heart of the capital Damascus, and includes commercial, retail, and hospitality facilities, in addition to integrated residential areas .

This shift reflects Emaar’s unwavering confidence in Syria’s economic recovery prospects and the transformative potential of the Eighth Gate project for the country’s urban landscape. By proceeding independently, the company will be able to ensure the project is executed to the highest international standards that characterize Emaar’s projects worldwide. The project will also benefit from the disciplined operational approach and design philosophy that have contributed to the development of iconic destinations such as Downtown Dubai, Dubai Hills Estate, and Emaar Beachfront .

Mohamed Alabbar, founder of Emaar Properties, said: “Our decision to withdraw from the joint venture for ‘Eighth Gate’ is a testament to our unwavering belief in Syria and its people. Emaar was founded on the conviction that great cities deserve exceptional communities, and Damascus is one of the world’s greatest cities .”

The "Eighth Gate" project carries profound symbolic significance, as its name is inspired by the seven historic gates of Damascus, which throughout the ages have symbolized an ancient civilization open to the world. The project aspires to be a modern-day "Eighth Gate," honoring Syria's rich heritage and opening new horizons for an era of growth, trade, and belonging.

About Emaar Properties PJSC:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a leading global real estate developer and lifestyle company with a strong presence in the Middle East, North Africa, and Asia. Emaar is one of the world’s largest real estate developers, with a land bank of approximately 600 million square feet in the UAE and key international markets.

Emaar has a proven track record of delivering projects on schedule, having delivered more than 129,100 residential units in Dubai and key international markets since 2002. The company owns approximately 1.4 million square meters of revenue-generating assets and owns 41 hotels and resorts with nearly 10,000 rooms (including both owned and managed hotels). Its operations in the shopping mall, hospitality, leisure and entertainment, and commercial leasing sectors, along with its international markets activities, contribute approximately 28% of the company's total revenue.

The Burj Khalifa, a global architectural landmark, The Dubai Mall, the world’s most visited shopping and entertainment destination, and The Dubai Fountain, the world’s largest dancing fountain, are among the most prominent projects developed by Emaar to date.

You can follow Emaar on:

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For media inquiries , please contact PR@emaar.ae

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