Abu Dhabi’s Eagle Hills to develop residential and tourism projects in Syria

Abu Dhabi-based real estate firm Eagle Hills is set to develop two significant projects in Syria, focusing on residential and tourism sectors. The company has signed a framework agreement with the Syrian government, which includes the Tadamun Towers development in Damascus and the Eco Life tourism project in Latakia. While the total investment amount remains undisclosed, Syria's Arab News Agency reported that these projects will generate over 40,000 jobs.

The collaboration will bring together housing, services, and employment opportunities, with a strong emphasis on involving Syrian companies and skilled professionals. Eagle Hills founder and chairman Mohamed Alabbar expressed hope that these developments will become thriving communities offering residents suitable homes, quality services, job opportunities, and a decent standard of living.

Alabbar also encouraged Syrians both within and outside the country to invest in Syria's reconstruction efforts and emphasized the importance of domestic expertise in the projects' development. The new projects are expected to further boost domestic investment in Syria's housing market, which is expected to build or rehabilitate two million homes by 2035 to tackle the nation's housing shortage.

UAE-based Arada is also planning a $7 billion mixed-use real estate project in Syria, which will comprise 11,000 homes, including residential units, villas, town houses, branded residences, hotel rooms, and serviced apartments.