Eagle Hills Launches Major Residential Projects in Damascus & Latakia, Syria
Gulf News
Eagle Hills partners with Syria for two large-scale residential and tourism developments in Damascus and Latakia, marking a new real estate frontier.
Eagle Hills Expands Into Syrian Real Estate Market
Abu Dhabi-based developer Eagle Hills has signed a significant framework agreement with Syrian authorities to develop two major residential and tourism projects located in Damascus and Latakia. The deal was inked on October 5 at the People’s Palace in Damascus, in the presence of Syrian President Ahmad Al Shara and Mohamed Alabbar, founder and chairman of Eagle Hills.
Alabbar, who is also the chairman of Emaar Properties, announced the initiative on social media, describing it as "a new beginning for Eagle Hills in Syria." The projects aim to create thousands of homes, jobs, and services in collaboration with Syrian companies and skilled professionals, signaling a robust commitment to the local market.
Damascus Heights: A Premier Capital Living Experience
The flagship project in the Syrian capital, marketed as Damascus Heights or referred to during the signing as Tadamun Towers, will be perched on the hills overlooking west Damascus. It plans to deliver approximately 11,000 residential units, including villas with three to five-plus bedrooms, apartments ranging from one to three bedrooms, and townhouses featuring three to four bedrooms.
Beyond housing, the development will incorporate 500 hotel rooms, 1,000 serviced apartments, retail outlets, offices, two schools, and a hospital. Key city landmarks like Umayyad Square will be just 13 minutes away, with the historic Old City reachable within 20 minutes, promising convenient access to Damascus’s core cultural and business hubs.
Latakia Yachts & Marina: Coastal Luxury with Leisure Amenities
The second project, Latakia Yachts & Marina—also known as Eco Life—is a beachfront luxury development set along Syria’s Mediterranean coast. This extensive scheme includes a deep-water marina and yacht club, with a blend of villas, apartments, and townhouses that offer private pools and sweeping marina views.
Complementary amenities feature hotels, a beach club, a vibrant waterfront promenade, a theme park, and water sports facilities. Residents will benefit from concierge services, a spa, and a traditional Syrian hammam. The Latakia Corniche and the city’s port are situated 12 and 15 minutes away, respectively, enhancing the location’s appeal.
Prioritizing Syrian Investors and Workforce
Eagle Hills emphasizes giving priority to Syrian nationals across these projects. According to their "Invest with us" platform, investment opportunities in Syria are primarily open to qualified Syrian individuals, companies, and institutions, including residents, returnees, and diaspora investors.
Unrevealed Investment Value but Ambitious Scope
Although the official investment sum for these projects has not been disclosed, previous reports suggest a scale between $20 billion (Dh73.4 billion) and over $50 billion (Dh183.6 billion). These multi-billion-dollar developments mark a major entry by Eagle Hills into a recovering Syrian real estate market.
Eagle Hills’ Regional Footprint
Founded in 2014 by Mohamed Alabbar, Eagle Hills operates independently from Emaar, focusing on innovative waterfront and mixed-use projects across the Middle East. Its portfolio includes Marassi Al Bahrain in Bahrain, Maryam Island in Sharjah, Ramhan Island in Abu Dhabi, and upcoming projects such as the Bvlgari Resort & Mansions in Abu Dhabi (2025) and a Mandarin Oriental in Oman. It has also announced a $12 billion waterfront development in the Maldives.
Implications for Dubai Real Estate Agents
Eagle Hills’ strategic move into Syria opens fresh avenues for property agents specializing in Middle Eastern markets. Understanding these large-scale projects can provide agents with insights into emerging high-potential markets and investment trends. Close monitoring of project progress and investment opportunities for Syrian diaspora clients could position agents advantageously in the evolving regional real estate landscape.
Based on reporting from Gulf News. Summary and analysis by Propilot AI.
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