Damascus Countryside, June 18 (SANA) Invest Group Overseas (IGO) on Wednesday launched its “Yaafour 963” residential project in the Yaafour area of Damascus Countryside, marking the first announced project under the company’s new investment plan in Syria.
The launch ceremony was attended by Tourism Minister Mazen al-Salhani, Damascus Governor Maher Marwan Edlbi, Damascus Countryside Governor Amer al-Sheikh, Syrian Civil Aviation and Air Transport Authority Chairman Omar al-Husari, and Jordanian Ambassador to Syria Sufian Qudah.
The project aims to support the real estate development sector and attract investment through the construction of a fully serviced residential complex based on modern building and urban planning concepts that combine contemporary architecture with local identity.
Located in Yaafour, west of Damascus, the project covers an area of 144,000 square meters and is designed as an integrated residential community featuring green spaces, parking facilities, sports and recreational amenities, and a range of service facilities.
Syrian businessman Muwaffaq al-Qaddah that the project forms the first phase of the group’s activities in Syria and reflects an investment strategy focused on modern real estate developments using advanced construction technologies and engineering solutions.
Al-Qaddah said the company plans to announce additional projects in the coming months in Damascus, Damascus Countryside and Latakia, as well as in other Syrian provinces.
He stressed the importance of cooperation between the public and private sectors in supporting economic development and reconstruction efforts, saying that the current stage requires coordinated contributions from economic and social stakeholders to encourage investment and accelerate development.
IGO, a subsidiary of MAG Holding Group, operates in real estate development and investment through a portfolio of residential and commercial projects in Syria and the United Arab Emirates and is seeking to expand its investments in the Syrian market.
MHD
