Abu Dhabi-based Eagle Hills plans to launch two mega real estate projects in Syria with development costs exceeding $50 billion, according to a news report.

The first project will be built in the Dummar area of Damascus, covering nearly 33 million square metres (sqm), with a multi-use urban plan including large-scale residential, hotel and commercial development, Asharq Business reported, quoting an informed source.

The proposed plan includes 73,000 residential units and 3,200 hotel rooms, along with green spaces totaling more than 7 million sqm. 

The second project is located in Lataki and spans 15 million sqm, including more than 29,000 residential units, 2,800 hotel rooms, and 5.5 million sqm of parks and public facilities. 

The projects are still in the presentation and initial discussion stage, with the upcoming meetings expected to focus on the regulatory framework, implementation mechanisms and potential financing, the report said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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