UAE's Eagle Hills Signs Deal for Damascus, Latakia Projects

The Syrian government signed a framework agreement with UAE-based real estate group Eagle Hills during an event held at the People's Palace in Damascus titled Investing in Syria and Launched Projects. The agreement covers development of two major urban projects: the Damascus Hills residential project (Tadamon Towers) and the Latakia Tourism project (EcoLife).

Project Scope

The new projects form an integrated urban package that includes:

• Damascus Hills: more than 26,000 residential units and over 4,000 hotel units.
• Latakia Tourism project: about 10,000 apartments and 1,000 villas, alongside roughly 4,000 hotel units.
• More than one million square meters of gardens and green spaces, with about 20,000 trees.
• 35 kilometers of cycling and jogging paths, a marina and a 3 kilometer seafront promenade.
• Educational and health facilities within the coastal project.

Stated Objectives

Minister of Public Works and Housing Mustafa Abdul Razzaq said the agreement marks a pivotal step moving Syria from a stage of vision and planning to actual implementation, describing it as a genuine shift toward partnership and execution. He noted that Ministry of Housing estimates indicate Syria's housing deficit could exceed two million units by 2030 if urgent action is not taken.

Expected Employment Impact

According to the minister, initial estimates for the projects moving into implementation suggest they could generate more than 95,000 jobs during construction and operation phases, including over 23,000 permanent positions, along with broader effects on construction, industry, services, tourism and supply chain sectors.

Tourism Minister Mazen Al Salhani said the framework agreement seeks to establish a model for cooperation and development of integrated, sustainable urban and tourism clusters. Eagle Hills founder Mohamed Alabbar expressed pride in participating in Syria's building process, stating his company would work with relevant authorities to contribute to the country's rebuilding.

Parallel Projects in Other Governorates

The agreement coincides with the launch of development projects in other provinces. In Daraa, the Houran One project by Maj Group was launched as the group's first investment project in the province, including an 18 story tower and a commercial mall. In Idlib, the Ministry of Public Works and Housing announced the Nahda residential project, spanning 340,000 square meters and including 3,000 housing units to accommodate 15,000 people.