Mohamed Alabbar, Founder and Managing Director of Emaar Properties, has announced plans for over $16 billion in investments aimed at revitalizing Syria’s real estate and tourism sectors. Speaking at the RISE Summit 2026 in Dubai, Alabbar emphasized the potential of markets facing economic challenges, provided that investments are grounded in feasibility studies and social responsibility.
Investment Plans Highlight Syria’s Resources
Alabbar indicated that the planned investments could reach as high as $17 billion, citing Syria’s rich natural and human resources, including agricultural land, water, oil, and gas. His recent visit to Syria allowed him to assess investment opportunities firsthand, where he noted the competence of local officials and the cooperative environment for foreign investments.
He stressed that investment decisions should focus on economic viability while also contributing to job creation and local economic activity. Alabbar highlighted the importance of sustainable relationships with local communities and maintaining transparency throughout the investment process.
Emaar’s Strong Sales Backlog
In addition to discussing the Syrian investments, Alabbar provided insights into Emaar Properties’ performance, revealing a sales backlog of approximately AED150 billion. He noted that despite regional tensions, buyers continue to meet their payment obligations, with Emaar typically selling around 4,000 property units monthly. Cancellations have decreased significantly, indicating a rebound in buyer confidence.
Alabbar reaffirmed Emaar’s commitment to a stable pricing policy, avoiding discounts that could undermine customer trust. He explained that maintaining fairness among buyers is crucial, especially in a market where property purchases represent significant financial commitments.
Competitive Property Market in Dubai
Alabbar remarked that property prices in Dubai and the UAE remain competitive compared to international markets such as London and Singapore. He urged stakeholders to evaluate prices based on specific project characteristics rather than broad market averages. In the hospitality sector, occupancy rates have improved to between 60% and 65%, reflecting a positive trend in tourism.
He also noted that Emaar has completed the design for a new building, awaiting improvements in logistics and supply chains before moving forward. Alabbar highlighted advancements in construction technology, including a recent project that utilized automated construction methods to enhance efficiency and energy performance.
Embracing Technological Advancements
Addressing the role of artificial intelligence, Alabbar warned that companies not integrating AI into their operations within the next year risk falling behind. He emphasized the importance of adapting to technological changes to enhance productivity and operational efficiency.
Alabbar’s insights reflect a broader trend in the real estate sector, where technological advancements are reshaping urban development and operational strategies. He concluded by underscoring the need for long-term planning and investment in human capital to ensure sustainable growth amid evolving economic landscapes.
According to Economy Middle East, Alabbar’s vision for Emaar and the potential investments in Syria signal a strategic approach to navigating economic challenges while fostering growth in emerging markets.
