Noon Lands in Damascus
Emirati businessman Mohamed Al-Abbar, founder of the e-commerce platform Noon, announced on 16 May 2026 the opening of the company's first official office in the Syrian capital. The launch came during a UAE business delegation visit that also included representatives from several major companies.
Al-Abbar said the move followed what he described as the high efficiency shown by Syrian staff in technology and digital services, adding that local teams were capable of delivering globally competitive solutions.
Eagle Hills' $50 Billion Pitch
The Noon announcement coincided with reports that Eagle Hills, the Emirati developer chaired by Al-Abbar, is studying two large urban projects in Syria with a combined development cost exceeding $50 billion.
The first site sits in the Dummar area of Damascus on roughly 33 million square meters and is planned to include tens of thousands of housing, hotel, and commercial units, alongside green spaces and broad public facilities. The second, in Latakia, spans about 15 million square meters and is designed as an integrated residential and tourist complex.
A Gulf Investment Wave
The visit reflected a widening push by Gulf and other foreign investors to scout Syria. Talal Al-Hilali, head of the Syrian Investment Authority, received the delegation and tied the trip to the first Syrian-Emirati Investment Forum.
President Ahmad al-Sharaa separately presented investment opportunities, particularly in real estate and tourism, to a string of foreign businessmen on 4 May 2026, including Turkey's Fattah Tamince, the UAE's Mohamed Al-Shibani, and Egypt's Hassan Allam.
Noon's Regional Footprint
Noon was launched in the United Arab Emirates in 2017 with initial funding of roughly $1 billion from Saudi Arabia's Public Investment Fund and other Gulf backers, with the stated aim of building an Arab platform able to compete with global e-commerce players. It runs online retail, fast delivery, the Noon Food service, electronic payments, and logistics, mainly across the UAE, Saudi Arabia, and Egypt.
Al-Abbar, who founded Emaar Properties in 1997 and is associated with landmark projects including the Burj Khalifa and Dubai Mall, urged other regional and international firms to follow Noon's example and open offices in Syria, framing the country's market as offering promising opportunities backed by young talent and technical expertise.