Eagle Hills in Syria: Agreement to Develop the Talal Damascus and Latakia Tourist Projects

The real estate development sector in Syria is witnessing new movements with the entry of regional development companies into large-scale urban and tourism projects. The latest of these is the signing of a framework agreement with Eagle Hills UAE to develop projects in Damascus and Latakia.

The agreement was signed in Damascus on October 5, 2026 between the Ministries of Public Works & Housing and Tourism and Eagle Hills, and includes the Telal Damascus Real Estate Project and a tourism project in Latakia, as part of a move towards developing integrated urban communities that combine housing, services, economic, and tourism activities.

The importance of the agreement is not limited to the two projects themselves, but also extends to what the entry of regional developers into the Syrian market may represent in terms of a transformation in the nature of new real estate projects and the investment opportunities associated with them.

What does the Eagle Hills agreement in Syria include?

The agreement represents a framework for cooperation between Syrian government entities and Eagle Hills to develop urban and tourism projects, most notably Telal Damascus and the tourism project in Latakia.

The agreement comes as part of a shift from developing separate housing units to establishing integrated urban communities that include residences, services, facilities, public spaces, and economic activities within a single environment.

Mustafa Abdel Razzaq, Minister of Public Works and Housing, indicated that the goal is to build a housing system starting from land, planning, legislation, infrastructure, financing, and investment, all the way to creating viable urban communities.

Such projects are part of the transformations that should be considered when studying real estate investment in Syria, especially with the increasing presence of organized projects and new residential complexes.

Telal Damascus Real Estate Project

Telal Damascus Project is one of the most prominent projects included in cooperation with Eagle Hills, and its concept is based on developing an integrated community that goes beyond the traditional residential complex.

According to published information about the project, the plan includes a wide range of real estate products including apartments, villas, and townhouses, as well as hotels, green spaces, commercial, educational, and health facilities, and other services.

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Location of Telal Damascus

The project benefits from its relative proximity to several key locations in the capital, as the official website indicates a travel time of about 13 minutes from Umayyad Square, 15 minutes from the National Museum, and about 20 minutes from Old Damascus.

This location gives the project significant real estate value, as easy access to the city center and main services is among the factors influencing the evaluation of large residential projects and their attractiveness to buyers and investors.

What about Al-Tadamon Towers in Damascus?

Eagle Hills founder Mohammed Alabbar announced, in conjunction with the signing of the agreement, work on the Al-Tadamon Towers project in Damascus, confirming the company's approach to creating communities that offer suitable environments for living, working, and services.

He also invited Syrian investors at home and abroad to invest and participate in the new projects, referring to the expected role of private capital in the upcoming phase of urban expansion.

These projects gain importance from the fact that they coincide with the market's need to develop a modern and organized housing supply, not just add individual units to the real estate inventory.

Latakia Tourism Project

The second focus of the agreement is the development of a tourism and urban project in Latakia, which adds a new dimension to investment by combining real estate development with the tourism and hospitality sectors.

Initial published information about the project indicates a vision that includes multiple residential and tourism components, including apartments, villas, hotels, restaurants, entertainment and sports facilities, as well as facilities linked to the seafront.

Mohammed Alabbar also mentioned work on the Eco Life project in Latakia in parallel with Al-Tadamon Towers in Damascus.

At this stage, it is important to treat project details as preliminary information until final implementation plans, prices, development phases, and delivery schedules are announced.

More than 40,000 Expected Job Opportunities

The expected impact of the tourism and urban projects extends to the surrounding economic activity, not just the real estate market.

According to statements by Tourism Minister Mazen Al-Salehani, initial estimates indicate the possibility of providing more than 40,000 direct and indirect job opportunities, including more than 10,000 permanent jobs.

Job creation and commercial and tourism activity can support future real estate demand; major projects usually generate needs related to housing, rentals, commerce, and services. However, the scale of this impact will remain linked to the actual implementation phases and the size of the economic activity generated by the projects.

What does Eagle Hills' entry into the Syrian real estate market mean?

The entry of a regional developer the size of Eagle Hills into the Syrian market can be seen from several angles. The market is gradually attracting projects based on the integrated urban communities model instead of focusing solely on individual buildings and housing units.

The presence of regional developers may also raise the level of competition between projects in terms of planning, design, quality of facilities, management of complexes, and services provided after delivery.

At the same time, the variety of units between apartments, villas, townhouses, and tourism properties opens up wider options for investors to choose the right real estate asset according to their budget and investment strategy.

This does not necessarily mean an increase in property values or guaranteed investment returns; such outcomes depend on factors such as offering prices, progress of implementation, demand size, infrastructure, delivery dates, and the general market situation.

How could the two projects affect real estate in Damascus and Latakia?

The impact of major projects may go beyond the real estate units within them. The implementation of new infrastructure, commercial, tourism, and service facilities can increase the attractiveness of surrounding areas and create new patterns of real estate demand.

In Damascus, organized projects may support demand for modern residential complexes, while the tourism project in Latakia could provide opportunities related to tourism and residential properties, rentals, hospitality, and services.

Therefore, evaluating opportunities should not rely solely on the project or developer name, but rather on studying the location, price, payment plan, construction phase, expected demand, and opportunities for rental and resale.

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Does the agreement present an opportunity for real estate investors?

The entry of regional developers and the launch of large-scale projects is an indicator worth following for the real estate investor, but it is not sufficient by itself to make a purchase decision.

When units and new phases are launched, prices should be compared with competing properties, payment plans and delivery dates studied, and the legal status of the property and developer verified, in addition to assessing opportunities for personal use, rental, or resale.

As projects progress from agreements and plans to actual implementation, the investment opportunities they may generate will become clearer.

The Future of Major Real Estate Projects in Syria

The agreement with Eagle Hills reflects a move toward increased cooperation between the public sector and private sector developers and investors to implement larger and more integrated urban and tourism projects.

The decisive factor in the coming period will be turning these agreements into projects implemented on the ground, along with price clarity, financing plans, implementation stages, and the volume of new supply entering the market.

As these elements become clearer, it will be possible to assess the real impact of the Telal Damascus and Latakia tourism projects on the Syrian real estate market and the investment opportunities surrounding them.

Invest in new real estate opportunities with Imtilak Real Estate

With the expansion of the new real estate projects map in Syria and the entry of regional developers into the market, Imtilak Real Estate helps you follow up on available projects and opportunities and compare options according to the property's location, your budget, and investment goals.

Whether you are looking for a property to live in or invest in, you can benefit from the expertise of the Imtilak team in studying available options and comparing areas and projects to reach an informed purchase decision.

Contact your Imtilak Real Estate consultant to learn about the latest projects and investment opportunities available in Syria.