Framework Deal Signed
Syria's Ministry of Public Works and Housing and its Ministry of Tourism signed a framework agreement on 5 October 2026 with United Arab Emirates developer Eagle Hills to build large residential and tourism complexes. President Ahmad al-Shara attended the signing.
The agreement covers two developments: a real-estate project known as Telalat Damascus and a tourism project on the coast at Latakia. Officials described the step as a move from planning toward implementation through partnership.
Two Flagship Projects
The Damascus component centers on residential construction, while the Latakia project is planned as a tourism development on the Syrian coast. Both are to be delivered by the foreign developer under the terms of the framework agreement.
The public works minister called the agreement "an important milestone in rebuilding Syria," framing it as a shift from drawing up plans to implementing them with private partners. He described the signing as a move from the planning stage to carrying out projects through partnership.
Housing Gap by 2030
Ministry estimates cited at the signing warned that Syria's housing deficit could exceed two million units by 2030 if no immediate action is taken. The minister presented housing and urban development as among the country's most pressing economic challenges.
He outlined an integrated national housing strategy spanning land, planning, legislation, infrastructure, financing, and the construction of viable urban communities, with categories for social, affordable, middle-income, and investment housing.
Private Capital for Recovery
Officials said the goal is to turn housing from a source of pressure into a driver of economic growth, with the private sector taking a central role in financing and building new communities. The strategy groups future housing into social, affordable, middle-income, and investment categories.
The agreement was signed as a framework arrangement, setting the direction for both projects as the government seeks private capital to rebuild housing stock and coastal tourism.