Fifty-Billion-Dollar Plan
Emirati developer Eagle Hills is studying two large urban developments in Syria with combined investment plans exceeding US$50 billion, a scale that places the proposal among the largest foreign property intentions to surface for the country since reconstruction discussions resumed.
The plans surfaced on 5 May 2026 during a visit to Damascus by Eagle Hills founder Mohamed Alabbar, who is participating in the first Syrian-Emirati business forum where discussions also cover investment opportunities across multiple sectors alongside the property announcements.
Damascus Master Plan
The Damascus development is sized at roughly 33 million square meters and would deliver about 73,000 residential units and 3,200 hotel rooms, with more than 7 million square meters of green space.
The developer estimates the construction phase alone would generate more than 100,000 jobs, a figure tied to the build period itself rather than ongoing operational roles after delivery.
Latakia Coastal Project
A second project on the Mediterranean coast at Latakia would cover about 15 million square meters and include approximately 29,000 residential units and 2,800 hotel rooms, with a tourism and hospitality focus.
Together the two sites would add over 100,000 housing units and roughly 6,000 hotel rooms to Syria's national stock if delivered as outlined.
Gulf Capital Returns
The disclosed scale reflects renewed Gulf interest in Syria's real estate and reconstruction market, after years of conflict and sanctions that kept large foreign developers away.
The forum is described as the first formal Syrian-Emirati business gathering, with Alabbar attending as part of a wider UAE delegation that includes senior business figures and company representatives.
Status and Next Steps
The plans remain under study, and no signed contracts, land allocations, or financing structures have been disclosed at this stage.
A binding development agreement would typically follow steps such as a memorandum of understanding, formal land allocation, and a master-developer contract before construction begins, with each milestone shifting the proposed figures from intent toward commitment.