Eagle Hills signs deal to develop tourism projects in Syria
by@Reuters
Summary
On October 5, 2026, a significant economic agreement was signed in Damascus between UAE-based Eagle Hills and Syrian officials, signaling a renewed interest in rebuilding Syria's tourism sector following its civil war. With international flights resuming, the first half of 2026 saw tourist numbers more than double to 3.52 million, reflecting a growing interest from abroad despite ongoing security risks and infrastructure challenges. Notably, many of these tourists are Syrian expatriates returning to their homeland, and hotel groups from Gulf countries, Europe, and the US are keen to launch new projects aimed at revitalizing the country’s hospitality industry amidst the ongoing reconstruction efforts.
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Analysis
Accor: Accor is a major French hotel group operating across multiple continents with a portfolio of international and regional brands. In the news, it is in advanced negotiations for projects in Syria, reflecting the broader interest from European hotel operators in re-entering the market as security conditions improve. Eagle Hills: Eagle Hills is a UAE-based real estate developer focused on large-scale tourism and urban projects in emerging markets. In the news, it signed a framework agreement with the Syrian government for major developments in Damascus and coastal Latakia, positioning the company as a key investor in Syria's post-conflict reconstruction and tourism revival. Ahmed al-Sharaa: Ahmed al-Sharaa is the president of Syria, having transitioned from a former al-Qaeda commander to lead efforts at national reconciliation. In the news, he is credited with improving ties with the West and drawing reconstruction funds from Gulf nations to support tourism and economic recovery. Mohamed Alabbar: Mohamed Alabbar is the founder and chairman of Eagle Hills and also chairs Dubai's Emaar Properties. In the news, he attended the Damascus signing ceremony and highlighted Syria's historical attractions and potential for expatriate tourism, while noting Emaar's separate involvement in local developments. Mazen al-Salhani: Mazen al-Salhani serves as Syria's Minister of Tourism. In the news, he participated in the signing of an economic agreement with Eagle Hills at the People's Palace in Damascus, underscoring the Syrian government's efforts to attract foreign investment in tourism infrastructure. Wyndham Hotels & Resorts: Wyndham Hotels & Resorts is a US-based global hotel company with a wide network of brands and properties. In the news, it is scouting opportunities in Damascus and beach destinations in Syria, with its EMEA president expressing confidence in an imminent first signing in the country. Tourism Rebound: International flights have resumed to Syria from Gulf hubs, supporting the return of tourists and expatriates. Hotel Sector Interest: Western and regional hotel groups are actively exploring projects amid easing of prior investment barriers. Infrastructure Challenges: Rebuilding efforts continue to address aging hotel inventory and limited electronic payment options outside specific locations.
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