Eagle Hills, one of Abu Dhabi's leading property developers, has signed agreements to build two large residential and tourism projects in Syria. The deals were signed on Sunday at the People's Palace in Damascus, in the presence of Syrian President Ahmad Al Shara and Eagle Hills founder and chairman Mohamed Alabbar.
Under the agreements, reached with Syria's ministries of Public Works and Housing, and Tourism, the first project, named Damascus Heights, will rise in west Damascus and include 11,000 homes across villas, apartments and townhouses, alongside 500 hotel rooms, 1,000 serviced apartments, schools, a hospital, and office and retail space.
The second project, Latakia Yachts and Marina, will be built in the coastal city of Latakia and will combine villas, apartments and townhouses with hotels, a beach club, a waterfront promenade, a theme park and water-sports facilities.
No official investment figure was disclosed for either project, though earlier international reports had put potential Eagle Hills commitments in Syria at tens of billions of dollars. Speaking at the signing, Alabbar described the agreements as "a new beginning for Eagle Hills in Syria," pledging that construction would involve Syrian companies and skilled local professionals.
The move marks one of the most significant entries by a UAE developer into Syria's property market after years of stagnation caused by conflict and sanctions, and could open the door for other Gulf investors considering a return to the country. Eagle Hills has built a global portfolio of large-scale waterfront and mixed-use developments, including projects in Abu Dhabi, Jordan, Bosnia, Morocco and Egypt.