An $18 Billion Plan
Mohamed Alabbar, the businessman who founded Emaar Properties, said on 19 June 2026 that investment projects worth roughly $18 billion are under study in Syria. Asked which city would surprise the world, he answered, "Damascus will surprise the world."
Where the Money Would Go
Of the total, about $11 billion is directed toward Damascus and its surrounding areas, while $5 billion to $7 billion is earmarked for projects along the Syrian coast. Damascus and Latakia were singled out as the most prominent investment opportunities in the country.
What Underpins the Bet
Alabbar pointed to Syria's oil, gas, agriculture and tourism, along with its beaches and what he called the country's talented people, as the foundations for the investment case. He framed these resources as competitive advantages for an economy emerging from years of war.
Timeline and Partners
Some of the projects are expected to begin within the coming months, carried out through partnerships with Syrian investors. The figures remain at the study stage rather than signed commitments, and no individual project budgets or sites were detailed.
A Signal for Recovery
Large foreign investment pledges have become a marker of confidence in Syria's reconstruction prospects. A commitment on this scale would be directed at the country's housing, coastal and tourism sectors.
The plans were presented as intentions under study, and their effect on the ground will depend on how many move from announcement to construction.