Emaar Founder Unveils $16 Billion Syria Property Investment Plans

Mohamed Alabbar, founder and managing director of Emaar Properties, has revealed the Dubai-based master-developer's intention to invest between $16 billion and $17 billion in real estate and tourism projects in Syria. This announcement was made during the "Building Through the Cycle" session at the RISE Summit 2026, held at the Dubai World Trade Centre.

Alabbar highlighted that these investment decisions would be guided by economic feasibility, development potential, and social responsibility, particularly in markets facing ongoing economic and geopolitical challenges. He emphasised Syria's significant natural and human resources, including agricultural land, water, oil and gas, as well as local expertise, as foundations for long-term development.

His recent visit to Syria reportedly provided firsthand insights into investment opportunities and highlighted the competence and cooperation from local officials. Alabbar stressed that any investment must be based on clear economic and commercial considerations, aiming to generate jobs, foster business development, stimulate local economic activity, and contribute to government revenues.

Major investment projects, he noted, could span over two decades, underscoring the importance of building sustainable relationships with local communities, transparency, and social responsibility. He added that UAE companies investing overseas carry a responsibility to contribute to the development and improve the quality of life in their operational markets.

In relation to Emaar's performance, Alabbar mentioned the company's real estate sales backlog stands at approximately AED 150 billion. He observed that buyers are maintaining payment obligations at levels comparable to 2025, and even exceeding them in some aspects, despite current market challenges. Monthly unit sales typically average around 4,000, with cancellations decreasing from 1,200 during regional tensions to fewer than 600 currently, indicating improved buyer confidence.