Emirati businessman Mohamed Alabbar affirmed that Syria holds promising investment opportunities in both the tourism and real estate sectors during a panel discussion held on the sidelines of the first Syrian-Emirati Investment Forum in Damascus on Tuesday.
Alabbar described Syria’s tourism sector as “a tremendous growth opportunity” that has not been sufficiently invested in for more than 25 years, noting that the country’s natural and historical assets position it to compete with some of the world’s leading tourist destinations.
He explained that Syria could eventually attract around 40 million tourists annually if its infrastructure and tourism services are adequately developed. He also projected that the country could draw nearly 8 million visitors within the next four to five years, potentially contributing to the creation of approximately 400,000 jobs.
Regarding the real estate sector, Alabbar revealed that several projects currently under study along the Syrian coast are estimated to be worth between $5 and $7 billion, in addition to other projects in Damascus valued at approximately $10 to $12 billion.
He further called for the direct involvement of Syrians in future projects through the establishment of professional joint-stock companies, enabling citizens — whether small-scale or major investors — to participate in development and investment opportunities.
