Dubai’s best-known property mogul just dropped two big numbers in one breath. Mohamed Alabbar, founder of Emaar Properties, told a packed room at RISE Summit 2026 that he’s eyeing investments of up to $17 billion in Syria, even as he revealed Emaar’s Dubai sales backlog has swelled to AED150 billion ($40.84 billion). For anyone watching the UAE’s property boom or thinking about where Gulf money goes next, this is worth paying attention to.
Why is Dubai’s Emaar eyeing Syria now?
Speaking at the Dubai World Trade Centre, Alabbar said Syria offers serious long-term investment opportunities, even with the country’s ongoing economic and political challenges. He put a figure on it: between $16 billion and $17 billion in planned real estate and tourism investments.
That’s a massive bet on a market most investors have avoided for years. Alabbar didn’t shy away from the risks, but his comments suggest Emaar and possibly other Gulf-backed developers see Syria as an emerging frontier once stability improves. For UAE and GCC investors who’ve grown used to watching Emaar build in Dubai, this signals the company is looking well beyond its home turf for its next phase of growth.
The remarks came during a session titled “Building Through the Cycle,” moderated by CNBC’s Dan Murphy. The framing matters. Alabbar wasn’t just talking about one country. He was positioning Emaar’s thinking around how developers ride out economic ups and downs, and Syria, in his view, is part of that bigger picture.
What’s happening with Emaar’s Dubai property empire?
Back home, the numbers are just as eye-catching. Emaar’s real estate sales backlog, essentially the value of homes sold but not yet handed over, now stands at roughly AED150 billion. Alabbar said the company is still selling around 4,000 property units every single month. That’s a staggering pace, and it tells you Dubai’s housing market hasn’t slowed down, despite years of talk about a potential cooling.
There’s also some reassuring news for anyone nervous about buyer confidence. Property purchase cancellations, people backing out of deals after signing, have dropped to fewer than 600. That’s down sharply after cancellations had doubled during a period of regional tensions. In plain terms, buyers who were getting cold feet are now sticking with their purchases again, which is generally read as a sign of a healthier, more stable market.
Alabbar also hinted at plans for a potential new iconic building in Dubai, though he didn’t give specifics on size, location or timeline. Given Emaar’s track record with landmarks like the Burj Khalifa and Dubai Mall, even a passing mention like this tends to get people talking. For anyone tracking emirates news on upcoming mega-projects, this is one to watch closely in the months ahead.
What makes this moment interesting is the contrast. On one hand, Emaar is doubling down on Dubai, with a record backlog and thousands of monthly sales showing no signs of slowing. On the other, its founder is publicly discussing a multi-billion-dollar push into Syria, a market still rebuilding from years of conflict. Both moves speak to the same instinct: spot opportunity early, whether that’s in a mature, booming market like Dubai or a riskier, undervalued one like Syria.
For UAE and GCC residents, the Dubai figures matter most directly. A shrinking cancellation rate and a growing sales backlog suggest the property market remains in demand, which affects everything from rental prices to resale values across the emirate. If you’re a buyer, investor or even just a renter watching the market, steady demand at this scale usually means prices and competition stay firm rather than cooling off anytime soon.
The Syria angle is a longer story still being written. Alabbar’s comments at RISE Summit 2026 are a signal of intent rather than a confirmed project, but they add Emaar to a growing list of Gulf businesses exploring opportunities there as the region watches for signs of reconstruction. As reported by Arabian Business, the details of how and when any Syria investment would move forward remain to be seen.
What to watch next: whether Emaar firms up concrete plans or timelines for its Syria investment, and whether Alabbar reveals more about that potential new Dubai skyscraper he teased. Both could shape headlines well into 2026.
