Dubai master-developer Emaar Properties plans to invest more than $16 billion in real estate and tourism development projects in Syria, with investment decisions guided by economic feasibility, development potential and social responsibility amid ongoing economic and geopolitical challenges, said its Founder and Managing Director Mohamed Alabbar.
The markets facing economic and geopolitical challenges offer promising investment opportunities, provided investment decisions are based on feasibility studies, economic development, and social responsibility.
Speaking during a session titled "Building Through the Cycle" at RISE Summit 2026, held today (October 14) at the Dubai World Trade Centre and moderated by CNBC Anchor and Correspondent Dan Murphy, Alabbar discussed developments in property markets, investment opportunities in Syria and the future of urban development amid global technological and economic transformations.
Alabbar said the planned investments in Syria would range between $16 billion and $17 billion, highlighting the country's substantial natural and human resources, including agricultural land, water, oil and gas, as well as local expertise, which provide a foundation for long-term development projects.
He said his recent visit to Syria had allowed him to explore investment opportunities firsthand, expressing appreciation for the competence of officials and the level of cooperation he encountered.
He stressed that investment decisions must be guided by clear economic and commercial considerations while contributing to job creation, business development, local economic activity and government revenues.
Alabbar noted that major investment projects could extend over 20 years, underscoring the importance of building sustainable relationships with local communities and maintaining transparency and social responsibility.
UAE companies investing overseas have a responsibility to contribute to development and improve quality of life in the markets where they operate, he added.
Turning to Emaar Properties' performance, Alabbar revealed that the company's real estate sales backlog stands at approximately AED150 billion, adding that buyers continue to meet their payment obligations at levels comparable to 2025, and even better in some respects, despite market challenges.
According to him, Emaar typically sells around 4,000 property units a month, while cancellations rose from approximately 600 units in 2025 to 1,200 during the period of regional tensions, before falling to fewer than 600 currently.
He described the decline in cancellations as an indication of improving buyer confidence and resilient property demand.
Although current sales remain below previous levels, Alabbar said the overall market trend remains positive, noting that regular payment collections are among the most reliable indicators of the property sector's strength, particularly given that buying property represents one of the largest financial decisions individuals make.
Emaar chief said it maintains a stable pricing policy and does not offer discounts or change payment terms during periods of slower sales to ensure fairness among buyers and protect existing customers.
Developers facing cash-flow pressures and high debt levels may resort to steep discounts to meet financial obligations, but market conditions vary by project location, developer and financial position, he noted.
"Offering a 30% discount to a new buyer in a building where existing customers had paid full price would be unfair," he said, adding that consistent pricing was essential to maintaining customer confidence.
Property prices in Dubai and the wider UAE remain competitive compared with markets such as London, Singapore, Chicago and Mumbai, he said, adding that comparisons should take into account prices per square metre, location and project characteristics rather than market averages alone.
