Syria Signs Eagle Hills Framework for Damascus Housing, Latakia Tourism

Syria has signed a framework agreement with Eagle Hills, the UAE-based developer, covering residential construction in Damascus and a tourism development on the coast. President Ahmad al-Sharaa attended the signing on Monday, the state news agency SANA reported.

The two projects named in the framework are Tadamun Towers, also known as Damascus Hills, in the capital, and Eco Life in Latakia. No total investment figure has been disclosed for either.

Public Works and Housing Minister Mustafa Abdul Razzaq cast the agreement as the point where reconstruction moves from planning to execution, with the private sector expected to carry the largest share of the next phase. He said Syria's housing shortfall could pass 2 million units by 2030 if the response is not fast enough, and that a national housing strategy is being prepared to cover land, planning, legislation, infrastructure, financing and construction.

Both projects will enter implementation directly, Abdul Razzaq said. The first phase concentrates on affordable and economy housing aimed at different income levels. His stated goal is to turn housing from a persistent problem into a source of economic growth and social stability.

Tourism Minister Mazen al-Salhani said the developments are planned as integrated urban and tourism communities that would draw activity through hospitality, restaurants, entertainment and related services. Preliminary estimates put job creation above 40,000 direct and indirect positions, including more than 10,000 permanent jobs, with priority given to Syrian workers and companies.

A separate set of initial estimates, which has not been independently verified, put the figure above 95,000 jobs during construction and operation, including more than 23,000 permanent positions. State media reported the potential for more than 40,000 jobs.

Visitor numbers climb

The investment push is running alongside a sharp rise in arrivals. The Ministry of Tourism recorded 3.5 million visitors in the first half of 2026, up 111% from 1.7 million in the same months of 2025.

International tourist arrivals rose 448% to 719,000, and Arab visitor arrivals climbed 107% to 664,000. Turkish nationals made up the largest group of international visitors, followed by Germans, Swedes, Americans, Dutch, Canadians and Britons. Jordan led Arab source markets, ahead of Lebanon and Iraq, with arrivals from Gulf countries also increasing.

Syrian expatriates accounted for most of the total, with 2.1 million diaspora visits in the first half of 2026, a 75% increase from 1.2 million a year earlier. Al-Salhani described them as "ambassadors for Syria," saying their trips help reshape perceptions and encourage other travellers.

The ministry says the growth reflects stronger confidence in Syria as a destination and is using it to justify faster spending on hotels, tourism facilities and related infrastructure. It has signed 17 memoranda of understanding and 10 partnership agreements covering tourism facilities, including rehabilitation of the Dama Rose and Carlton Damascus hotels and development in Slinfah and al-Dimas. Values and timelines have not been disclosed.

Investment over aid

The Eagle Hills agreement is being presented as a model for funding reconstruction through foreign direct investment and public-private partnerships rather than aid or state budgets alone.

Mohamed Alabbar, founder of Eagle Hills, said the company is working on Tadamun Towers in Damascus and Eco Life in Latakia, and hopes both become communities that offer homes, services and jobs. He called on Syrian investors at home and abroad to put money into the country's rebuilding.