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| Emaar energises Syrian economy with customer-centric projects Global real estate major Emaar Properties is energising the Syrian economy through country-specific and customer-centric projects. Emaar has already unveiled Eighth Gate, a SYP26 billion (US$500 million) master-planned community development, in association with IGO, an offshore investment and property development company. The construction and real estate market in Syria is buoyant and the Syria Economic Report estimates that construction area grew by 72.7 per cent to 11.24 million sq m in 2004 alone. Syria has also given the go-ahead to build 50,000 new flats in the coming five years, that sees an injection of SYP45 billion in the real estate sector. Emaar is powering the local economy through its projects, which generate employment opportunities as well as help build ancillary service sectors around its master-planned project. Eighth Gate broke ground in June, 2006, and is expected to be completed in six years. write your comments about the article :: © 2006 Construction News :: home page |