Emaar Plans $17 Billion Investment in Syria

Emaar’s $17 Billion Syria Investment

Emaar founder Mohamed Alabbar revealed that the company plans to invest around $17 billion in Syria, describing the opportunity as too strong to ignore. Speaking at the Rise summit in Dubai on Wednesday, he said he had visited Deir ez‑Zor the previous week and was impressed by the country’s potential.

He stated, “Syria is just a great nation with incredible resources,” and added, “You see their rivers. You see their soil. You see their oil and gas. You see their capabilities. It’s just incredible.” He also praised the people, saying, “Syria has an incredible caliber of people with great potential,” while noting that for sixty years the country has not been able to capitalize on its resources.

Post‑War Syria Attracts Investor Interest

Alabbar pointed out that Syria’s civil war ended in 2024 and, since then, global investors have shown interest, betting on the return of tourists to Damascus. According to the Syrian state news agency SANA, which cited government data, tourist numbers more than doubled year‑on‑year in the first half of 2026 to reach 3.52 million.

Alabbar on Commercial Motives and Long‑Term Responsibility

Alabbar stressed that the move is purely commercial, telling the audience, “My shareholders don’t like emotions. As everyone knows, my shareholders’ emotion is the dollar. I’m an emotional man. I like to go and support if I can, but it has to make business sense. Honestly, it’s purely, purely commercial.” He commended the Syrian government, saying, “Their ministers are the most efficient people I’ve met in my life. Seriously. These guys are like machines.”

He warned that entering a new market carries responsibility: “You’re going into economic development. You’re going into creating jobs, new businesses, paying taxes. You have to think: am I being a good citizen? Am I carrying the flag of my country?” Alabbar added that investors must think long‑term because governments change: “You have to outlast all governments. Governments come, governments go. Your project is 20 years. So if you’re not honest about economic development, taking care of the community, being socially responsible, you’re not going to last that long.” He urged fellow investors to “keep an eye on Syria” when Emaar enters the market.

Other UAE Moves in Syria

Alabbar’s comments came as another top UAE businessman announced his own plans. On Tuesday, Khalaf Al Habtoor took to social media to announce that the Al Habtoor Group will be unveiling a new and unique project in the country. He said, “We hope it will have a positive impact on its economy, create sustainable job opportunities for the Syrian youth and enhance confidence in Syria as a safe and welcoming destination for investment.”

Earlier, UAE‑based master developer Arada had announced its move to enter the Syrian through a joint venture with the state‑owned Syrian Sovereign Fund.