Mohamed Alabbar plans up to $17bn investment in Syria

Dubai, UAE - Mohamed Alabbar has outlined plans for between $16 billion and $17 billion in real estate and tourism investment in Syria, with major developments planned in Damascus and Latakia.

Alabbar disclosed the investment plans during the RISE Summit 2026 at Dubai World Trade Centre on 14 October.

Reuters identified Eagle Hills, the real estate company founded and chaired by Alabbar, as the developer behind the planned Syrian investment. Alabbar is also the founder and managing director of Dubai-based Emaar Properties.

The planned investment will focus on two major development programmes, one in Damascus and another in Latakia. Earlier reporting in 2026 indicated that billions of dollars could be directed toward both the Syrian capital and the country’s coastal region as Alabbar evaluates large-scale real estate and tourism opportunities.

Speaking at the summit, Alabbar said investment decisions in challenging markets should remain grounded in commercial feasibility, economic development and social responsibility.

He pointed to Syria’s agricultural land, water resources, oil and gas reserves and local workforce as factors that could support long-term development.

Alabbar said: “The planned investments in Syria would range between $16 billion and $17 billion.”

He also said a recent visit to Syria had allowed him to assess opportunities directly and meet officials involved in supporting investment activity.

The investment approach, he said, should extend beyond property development to include job creation, local business activity and broader economic contribution.

Alabbar also highlighted the long-term nature of major development projects, noting that some can take as long as two decades to complete. He said transparency, relationships with local communities and social responsibility are important considerations over that period.

During the same session, Alabbar discussed the performance of Emaar Properties. He said the company’s real estate sales backlog stood at approximately $40.8 billion (AED150 billion), while customer payment performance remained broadly resilient.

He also said Emaar typically sells around 4,000 units a month, while cancellations had fallen below 600 after rising to around 1,200 during a period of regional tension.

Alabbar said Emaar continues to maintain consistent pricing rather than introducing steep discounts or changing payment terms during slower periods, arguing that pricing stability is important for maintaining confidence among existing buyers.

The proposed Syrian investments would represent one of Alabbar’s largest international development commitments and come as international and regional developers explore opportunities in Syria’s reconstruction, hospitality and real estate sectors. Reuters has separately reported growing interest from hotel groups and developers in the Syrian market