Syria and the United Arab Emirates are advancing housing and tourism developments in Damascus and Latakia under a framework agreement signed by Abu Dhabi-based developer Eagle Hills. The agreement was signed on Monday at an investment event in Damascus attended by President Ahmed al-Sharaa and Mohamed Alabbar. Two projects will move directly into implementation, state news agency SANA reported.
The projects are Tadamon Towers in Damascus and Eco Life in Latakia. Led by Emirati billionaire Alabbar, the investment push could involve as much as $20 billion. It covers urban and tourism projects in the Syrian capital and the coastal city of Latakia.
Projects in Damascus and Latakia
Tadamon Towers is planned for Damascus; Eco Life is planned for Latakia. Alabbar identified both as part of the framework agreement Eagle Hills signed. The developments are envisioned as integrated communities, with homes, tourism facilities, services and public spaces.
The agreement covers housing and tourism development. Its geographic scope includes Damascus and Latakia, and SANA reported that two projects would move directly into implementation. The report didn't provide a construction timetable or further implementation details for either project.
Latakia is described as a coastal city in the report. An accompanying photograph showed a traffic roundabout in central Latakia on June 12, 2025. Omar Albaw/Middle East Images/AFP via Getty Images received credit for the image.
Investment and recovery
The framework advances a private-sector investment project in Syria’s postwar recovery. The potential value could reach $20 billion, though the report presents that as a possible amount, not a confirmed total. Eagle Hills, the Abu Dhabi-based developer, signed the framework agreement at the Damascus investment event.
Alabbar founded Eagle Hills and Emaar Properties. He identified Tadamon Towers and Eco Life as projects covered by the development push. The planned communities will include homes, tourism facilities, services and public spaces; the report doesn't specify the number of homes, the scale of the facilities or the expected costs of individual projects.
The agreement brings together a Syrian development effort and an Emirati private-sector developer. President Ahmed al-Sharaa and Mohamed Alabbar attended the signing event in Damascus on Monday. SANA reported that both projects would proceed directly to implementation, while the wider investment effort could involve as much as $20 billion.
Samuel Wendel wrote the report, which describes the agreement as part of Syria’s postwar recovery. It gives the project names, locations and broad planned uses, but no further schedule or project-by-project investment breakdown. The immediate next step reported is implementation of Tadamon Towers and Eco Life.