Eagle Hills Launches Major Residential and Tourism Projects in Syria
The National
Abu Dhabi's Eagle Hills partners with Syria to develop residential and tourism projects creating 40,000+ jobs in Damascus and Latakia.
Eagle Hills Advances Syria's Real Estate with Two Major Developments
Abu Dhabi-based developer Eagle Hills is set to transform Syria's real estate landscape through two substantial projects under a new framework agreement signed with the Syrian government. These projects, located in Damascus and Latakia, aim to boost housing, services, and tourism while generating over 40,000 jobs, according to Syria's Arab News Agency.
Details of the Agreement and Projects
The agreement was formalized on Monday at the People’s Palace in Damascus, witnessed by Syrian President Ahmad Al Shara alongside representatives from Syria’s ministries of Public Works, Housing, and Tourism. Eagle Hills will spearhead the development of the Tadamun Towers in Damascus and the Eco Life tourism initiative on the Syrian coast in Latakia.
Mohamed Alabbar, founder and chairman of Eagle Hills, emphasized that these projects are designed to become vibrant communities offering adequate housing, employment, and comprehensive services. He highlighted the crucial involvement of Syrian companies and skilled professionals in the initiatives, stating, “We hope these projects will become communities where people can find suitable homes, good services, job opportunities and a decent life.”
He further encouraged Syrians both domestically and abroad to participate in Syria's reconstruction by investing in these ventures, underlining the importance of local expertise in their execution.
Investment Scope and Syria’s Housing Demand
While the exact investment amount for these two projects hasn't been disclosed, Alabbar has revealed ambitions to invest up to $18 billion in Syria's real estate market overall. This includes $5-7 billion focused on projects along the Syrian coast and up to $11 billion in Damascus and its surrounding areas.
The demand for housing in Syria remains significantly strong as the nation focuses on rebuilding its economy and infrastructure after years of conflict. The Syrian government targets the construction or rehabilitation of two million homes by 2035 to resolve ongoing housing shortages.
Funding for these housing initiatives is expected through a combination of government expenditure, private investment, new partnerships, and international capital. The government will provide land predominantly through the General Housing Establishment, with private investors responsible for development and infrastructure.
Broader Market Context and Additional Developments
According to the United Nations refugee agency UNHCR, more than 1.7 million Syrians have returned to the country between December 2024 and April 2026, creating a surge in housing demand. Complementing Eagle Hills' projects, UAE-based developer Arada plans a $7 billion mixed-use development west of Damascus. This ambitious project will include 11,000 homes, hotel accommodations, schools, a hospital, offices, and retail units, designed over a 10-year phased timeline.
Ahmed Alkhoshaibi, group CEO of Arada, noted the dual demand driving Syria's property market: “You have the local current demand, which is very strong for good communities. And you also have Syrians living outside, who want to invest, or have a home or holiday home in the country. So that demand will continue to grow.”
Implications for Dubai Real Estate Agents
The surge of investment and reconstruction projects in Syria signals growing opportunities for Dubai real estate agents working with regional investors and diaspora clients interested in emerging markets. Understanding these developments allows agents to better serve clients looking for investment or second-home options in Syria’s rebuilding cities, emphasizing the importance of cross-border market knowledge and long-term economic prospects.
Based on reporting from The National. Summary and analysis by Propilot AI.
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