Overseas Investment Group (IGO) announced on Wednesday the launch of its new residential project "Ya'four 963" in the Ya'four area of Damascus countryside.

This project represents the first of the Group's announced investments as part of its expansion plan to strengthen its presence in the Syrian market and provide advanced urban models that support the local real estate development sector.

Technical Specifications

The new urban project extends over a total area of 144 thousand square meters in the vital Yafour area. The project aims to provide a full-service residential environment that adopts the latest standards of urban planning and contemporary construction, while maintaining a balance between modern designs and the local visual identity.

The residential complex includes an integrated system of facilities, including wide green spaces, organized parking, and sports, recreational and service facilities.

The Chairman of the Board of Directors of the Group and Syrian businessman, Muwaffaq Al-Qaddah, explained that the "Yafour 963" project represents the first step in a long investment path that the group aims to develop modern real estate projects that meet the requirements of integrated life and adopt the latest engineering technologies.

Al-Qadah revealed the features of the upcoming future plan, which includes the launch of a package of new projects in the coming months, distributed between Damascus and its countryside and Latakia province, in addition to other Syrian provinces to stimulate the investment movement.

During his speech, Al-Qaddah stressed the strategic importance of the public-private partnership as a key pillar to support comprehensive economic development and reconstruction efforts. He pointed out that the requirements of the current phase impose close integration of roles and responsibilities between various economic and social actors, with the aim of stimulating the flow of capital and accelerating the pace of large-scale construction and development in the country.

Launch Ceremony

The inauguration ceremony was attended by a number of officials and official and diplomatic figures, including Minister of Tourism Mazen Al-Salhani, Damascus Governor Maher Marwan Idlibi and Damascus Countryside Governor Amer Al-Sheikh.

The President of the Syrian General Authority of Civil Aviation and Air Transport, Omar Al-Hosari, and the Ambassador of the Hashemite Kingdom of Jordan to Damascus, Sufyan Al-Qudah, also participated in the event, in addition to a crowd of economic and engineering activities.

The Overseas Investment Group (IGO) is a subsidiary of MAG Holding, which has an extensive track record of major residential and commercial projects in the UAE and Syria.

The selection of the Ya'four area in Damascus countryside, which is one of the high-end residential suburbs and attractive for investment projects, reflects the orientation of private capital towards the development of advanced residential infrastructures, taking advantage of the recent legal facilities aimed at attracting expatriates and regional companies to contribute to the local economic cycle.