Emirati businessman Mohamed Alabbar, founder of the e-commerce platform Noon, announced on Saturday, May 16, the opening of the company’s first official office in the capital, Damascus, following a visit he made to Syria as part of an Emirati delegation that included businesspeople and representatives of major companies.
Alabbar said in a video posted on his social media accounts that the move followed what he described as the high efficiency shown by Syrian cadres in technology and digital services. He stressed the ability of Syrian teams to provide globally competitive solutions, and called on regional and international companies to invest in Syria and open offices inside the country, saying the Syrian market has promising opportunities supported by young talent and qualified technical expertise.
Alabbar’s announcement coincided with reports that the UAE company Eagle Hills, which he chairs, is studying the launch of two major urban projects in Syria, under two plans with development costs exceeding $50 billion, according to Saudi Asharq. The first project is located in the Dummar area of Damascus, over an estimated area of about 33 million square meters, and includes tens of thousands of residential, hotel, and commercial units, along with green spaces and large public facilities.
The second project is located in Latakia (western Syria), over an area of nearly 15 million square meters, and includes an integrated residential and tourism project, with broad service and entertainment infrastructure. This came during a visit by an Emirati delegation to Damascus that included Alabbar in his capacity as founder and chairman of Eagle Hills. The head of the Syrian Investment Authority, Talal al-Hilali, welcomed the delegation, saying the visit aimed to explore investment opportunities and participate in the first Syrian Emirati Forum.
Syrian President Ahmed al-Sharaa presented investment opportunities in Syria, particularly in the real estate and tourism sectors, during separate meetings with global and Arab businesspeople on May 4. They included Turkish businessman Fettah Tamince, Emirati businessman Mohammed al-Shaibani, and Egyptian businessman Hassan Allam. Al-Sharaa has also held several separate meetings in recent weeks with prominent businesspeople from different countries to discuss the state of investment in Syria.
What Is Noon?
Noon is an e-commerce and digital services platform launched in 2017 in the United Arab Emirates. It was founded by Emirati businessman Mohamed Alabbar, founder of Emaar Properties, with support from Saudi Arabia’s Public Investment Fund and Gulf investors, with investments estimated at about $1 billion.
Noon was launched with the aim of creating an Arab platform capable of competing with global e-commerce companies in the region. The company’s services include online shopping, fast delivery, food delivery through Noon Food, as well as electronic payment and logistics services. Noon operates mainly in the UAE, Saudi Arabia, and Egypt, and is considered one of the most prominent e-commerce and digital services companies in the Middle East.
Who Is Mohamed Alabbar?
Mohamed Alabbar is an Emirati businessman and one of the most prominent investors in the real estate and technology sectors in the Arab world.
He founded Emaar Properties in 1997, which became one of the largest real estate development companies in the region. Its name is linked to major global projects, most notably Burj Khalifa, the world’s tallest tower, and Dubai Mall, one of the world’s largest shopping centers. Alabbar also chairs Eagle Hills, a company specialized in developing real estate projects and modern cities in several Arab and international countries.
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