UAE developer Eagle Hills has signed an agreement to develop residential and tourism communities across Syria, beginning with major projects in Damascus and Latakia.
The company signed a framework agreement with Syria’s Ministry of Public Works and Housing, acting on behalf of government entities, for the development, construction and delivery of projects across various governorates.
The first developments will be Damascus Heights in the Syrian capital and Latakia Yachts & Marina on the Mediterranean coast.
Both projects will now move into the implementation phase, with preparatory and construction work expected to begin soon in Damascus and Latakia.
Mohamed Alabbar, Founder of Eagle Hills, said: “We are investing in Syria because we believe in the country, in the resilience and capabilities of its people, and in the genuine opportunities it holds for growth. Through these two projects, we aim to create broader opportunities for employment, enterprise, investment and participation, while developing destinations that deliver lasting value to their communities.”
Damascus Heights is planned as a mixed-use community featuring homes, shops, hospitality and business facilities
Plans also include schools, healthcare facilities, green spaces and other services for residents.
The agreement establishes a framework for cooperation on the planning and development of the projects, taking into account the characteristics of individual sites and their infrastructure and service requirements.
Eagle Hills also plans to develop Latakia Yachts & Marina as a waterfront destination centred around a marina.
The project is planned to include homes, hotels, branded residences and leisure facilities.
The company said the Damascus and Latakia developments are expected to support economic activity and tourism and create employment opportunities across construction, hospitality and services during their development and operation.
Syrian contractors, suppliers and service providers are expected to participate in developing and operating the projects, with the company also targeting support for local supply chains, small and medium-sized enterprises, skills development and knowledge transfer.
Eagle Hills is also inviting applications for investment participation from Syrians living inside the country and abroad.
The company said priority will be given to qualified Syrian individuals, businesses and institutions.
Both projects are now due to enter implementation, with preparatory and construction work expected to commence soon.
