Two Projects, One Launch
A Saudi real estate developer unveiled two residential projects in the Damascus countryside on 7 June 2026, in a combined launch attended by senior Syrian housing officials. The developer, Abyat for Investment and Real Estate Development, put the total investment at more than $2 billion (USD).
The two schemes together are planned to deliver roughly 22,000 housing units, marking one of the larger foreign-backed real estate commitments announced in the country this year.
The Larger Complex
The bigger of the two, described as a modern urban complex in the Al-Bijaa area, is planned across some 6 million square meters and is set to contain about 20,000 residential units. Its build-out is scheduled over an eight-year horizon.
The second project, Abyat Hills in the Qudsaya suburb, covers roughly 379,000 square meters and is planned for more than 2,000 units over a four-year timeline.
Jobs and Subscriptions
The developer estimated the two projects would create more than 2,000 direct jobs and over 6,000 indirect ones. Officials said subscriptions for buyers are expected to open within about a month of the launch.
That subscription window would mark the first formal opportunity for prospective buyers to commit to units in either development.
Official Backing
The launch drew the Minister of Public Works and Housing, Mustafa Abd al-Razaq, the Governor of the Damascus countryside, Amir al-Sheikh, and the director general of the Public Housing Authority, Tammam al-Dubbul. The company's chief executive, Muhammad al-Suloom, represented the developer.
The presence of national and provincial housing authorities signaled state interest in channeling Gulf capital into large-scale residential construction.
A Test of Foreign Capital
Cross-border investment of this size, if it proceeds on schedule, would represent a substantial inflow of foreign money into Syria's construction sector. The multi-year timelines, however, mean the bulk of the spending and employment would materialize gradually rather than at once.