Emaar To Invest $17 Billion In Syria Alabbar Says Opportunity Too Strong To Ignore

(MENAFN- Khaleej Times) Emaar is planning to invest around $17 billion in Syria, the company's founder Mohamed Alabbar has revealed, calling the opportunity too strong to ignore. Speaking at the Rise summit in Dubai on Wednesday, Alabbar said he visited Deir ez-Zor last week and was struck by the country's potential.

"Syria is just a great nation with incredible resources," he said. "You see their rivers. You see their soil. You see their oil and gas. You see their capabilities. It's just incredible."

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He also praised Syria's people. "Syria has an incredible caliber of people with great potential," he said. However, he noted that for sixty years the country has not been able to capitalize on its resources.

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Ever since the civil war in Syria ended in 2024, global investors have been interested in the country, betting on tourists to return to Damascus. The Syrian state news agency SANA reported - based on government data - that tourist numbers more than doubled year-on-year in ​the first half of 2026 to 3.52 million.

'Purely commercial'

Alabbar was direct about his motives, saying that the decision to invest was very business-like. "My shareholders don't like emotions,” he said.“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 said Syria's government has impressed him. "Their ministers are the most efficient people I've met in my life. Seriously. These guys are like machines."

Alabbar stressed that entering a new market is a huge responsibility. "You're going into economic development,” he said.“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?"

He said that companies must think long-term because governments change. "You have to outlast all governments,” he said.“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."

Alabbar urged investors to "keep an eye on Syria" when Emaar entered the market.

Anoother UAE investor in Syria

Alabbar's comments come as another top UAE businessman also announced his investments in Syria.

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.“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,” he said.

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

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