Syria and the United Arab Emirates are advancing a key private-sector investment project as part of the nation’s postwar recovery efforts. Abu Dhabi-based developer Eagle Hills signed a framework agreement on Monday for major housing and tourism initiatives in Damascus and Latakia.
This agreement supports a broader development strategy spearheaded by Emirati billionaire Mohamed Alabbar, with potential investments reaching up to $20 billion. The move represents one of the UAE’s most substantial commitments to Syria’s economic revitalization.
The framework was formalized at an investment event in Damascus, attended by Syrian President Ahmed al-Sharaa and Alabbar. According to the state news agency SANA, the deal includes urban and tourism projects in Damascus and the coastal city of Latakia, with two initiatives proceeding directly to implementation.
Alabbar, founder of Eagle Hills and Emaar Properties, highlighted the projects as Tadamon Towers in Damascus and Eco Life in Latakia. These are designed as integrated communities featuring residential units, tourism amenities, services, and public areas.
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