UAE Developer Eagle Hills Signs $20 Billion Real Estate Pact for Damascus and Latakia

Syrian officials and Abu Dhabi-based Eagle Hills formalised a framework agreement on Monday to push forward large-scale housing and tourism developments in Damascus and the coastal city of Latakia. The ceremony, attended by President Ahmed al-Sharaa and Emirati real-estate magnate Mohamed Alabbar, marks the next step in a broader $20 billion investment drive championed by Alabbar’s Eagle Hills and his earlier venture Emaar Properties.

The agreement outlines two initial projects - Tadamon Towers in Damascus and Eco Life in Latakia - designed as mixed-use communities with apartments, hotels, services and public areas. State news agency SANA reported that these schemes will be implemented directly following the signing. The initiative is positioned as a cornerstone of Syria’s post-war economic revival, linking UAE private-sector capital with Syrian reconstruction needs.