Syria Signs Deal With UAE's Eagle Hills for Urban Projects

Syria signs a framework agreement with UAE-based Eagle Hills to develop urban and tourism projects in Damascus and Latakia, with officials expecting the projects to create tens of thousands of jobs.

Syria has signed a framework agreement with UAE-based real estate developer Eagle Hills to develop urban and tourism projects in Damascus and Latakia, marking a new step in the country’s efforts to attract foreign investment and accelerate reconstruction. 

The agreement was signed in the presence of Syrian President Ahmad al-Sharaa during the “Investing in Syria and Projects Underway” event at the People’s Palace in Damascus. Syrian officials said the projects could generate tens of thousands of jobs across construction, tourism, services and related industries.

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Public Works and Housing Minister Mustafa Abdul Razzaq described the agreement as a transition from reconstruction planning toward implementation and partnerships with investors. He said the government had been working with infrastructure bodies and investment institutions to develop projects that balance development requirements, public interests and the need to attract international capital and expertise.

Housing and urban development are among the government’s key priorities. Abdul Razzaq said ministry estimates indicate Syria’s housing deficit could exceed 2 million units by 2030 without immediate intervention. The government is preparing a national housing strategy covering land, urban planning, legislation, infrastructure, financing and construction.

The strategy includes social, affordable, middle-income and investment housing. Two projects covered by the Eagle Hills agreement are expected to move directly into implementation, with the initial phase including affordable and economical housing for different income groups. The projects are also expected to create opportunities for Syrian contractors, consultants, suppliers and other professionals.

Tourism Minister Mazen al-Salhani said the agreement aims to establish integrated and sustainable urban and tourism communities while supporting local economic activity. He highlighted the Syrian coast’s tourism potential and said developments combining tourism facilities, residential areas and services could strengthen the region’s position in international tourism.

Preliminary estimates indicate the tourism projects could generate more than 40,000 direct and indirect jobs, including over 10,000 permanent positions. The government also expects partnerships with international investors and experts to support knowledge transfer and skills development.

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Eagle Hills founder Mohamed Alabbar said the company is working on the Tadamon Towers project in Damascus and the Eco Life project in Latakia. He said the developments are intended to provide housing, services and employment opportunities while contributing to Syria’s reconstruction.

The agreement adds to a growing pipeline of international investment activity in Syria as the government seeks to rebuild infrastructure, expand housing and attract foreign capital.