I thought this would be interesting, theres a new project called marina city in Beirut and I was wondering if anyone has any idea if its underconstruction, any rendering or any more infos/pix, please post them. And theres also Astoria tower in Beirut, can anyone further detail these projects in Lebanon?

Marina City: Touristic & Investment Project
Marina City is considered as one of the most important projects in the real estate development in a prime location on the Great Beirut sea coastal front of Dbayeh region which was backfilled since 6 years ago it became known as Dbayeh Marina (Joseph Khoury Marina) which it can accommodate more than 700 yachts... from its outstanding characteristics as its strategic location close to Beirut Central District Commercial Center, to North Metn and Jounieh in addition to its connection to modern network of main roads leading to either the highway between Beirut and Jounieh or to the autostrade of northern Metn, also to the sea shore road, which lies at the door steps and parallel to the project.

The project consists of 26 plots of land, which represent a Marina belt that can be used for multiple purposes. The project extends on an area of 81,000m2 whilst the built-up area is of 365,000m2.

The project consists of:

- Five star hotel of 270 rooms and suites.
- A reception hall accommodating 1000 persons.
- Seven residential towers ranging from 11 to 15 floors and house for more than 150 luxurious residential units specialized for “time share” services – 75 furnished apartments – a covered commercial center extending to 75,000m2, which will house the most important trade marks and international companies and prestigious restaurants – playground for children and recreation extending to one kilometer – 12 movies theaters – underground parking cars that can accommodate 3000 cars...

But the types of investment consist of two sections: The residential
Towers, the commercial market and rental apartments – the hotel and partial ownership.

The total investment required for the execution of the project is around
$326 million; $190 million to launch the construction activities; and $116 million will be open to write-up for the public, companies & individual investors via Lebanese Canadian Bank.

The project is scheduled to start at the beginning of 2005 and to be completed by the end of 2007 and the yearly return on the investment is expected to be about 30% of the total investment.

Wow, this will certainly attract more tourists!! Good job, thanks for posting.

I remember reading about the Marina City project back in January 2004, it looks very impressive, but I haven't heard anything since. Has it been postponed or something?

I am going down to Beirut this summer and I will try to find out information about it from my cousin.

I saw the Dabbayeh Marina residential towers under construction last summer. Dabayyeh is an amazing place now that the marina has been constructed and hotels and night clubs have increased there. It is a nice town just north of Beirut and I believe the Dabayyeh marina is actually larger than the Beirut marina.

I believe the Dabayyeh marina is actually larger than the Beirut marina.

It is. It's also the largest marina in the Middle East.

Big news for Dabayyeh Marina!

4/28/2006

The premiere destination for all boating and water sports enthusiasts: Beirut Boat 2006


Under the auspices of the Lebanese Minister of Public Works and Transport H.E. Mr. Mohammad Al Safadi, Beirut Boat 2006, the 5th International BOAT & SUPER YACHT SHOW will be held from 17 to 21 May 2006 at La Marina - Joseph Khoury, Beirut – Lebanon.

On 18th of May, concurrently with show, the 2nd International Conference on Seafront Development & Real Estate in the Middle East will be held at Le Royal Hotel, under the auspices of H.E. Minister of Tourism Eng. Joseph Sarkis.
Beirut Boat 2006 is co-organized by Messe Düsseldorf and International Fairs & Promotions (IFP), renowned leaders in organizing world class international exhibitions and events. The show offers a series of prestigious sports, social and entertainment activities to make the event truly world class.
The exhibition is held at La Marina Dbayeh, a prestigious and modern venue for the Middle East’s most prestigious Boat show combining floating boats, super yachts and marine accessories with indoor and outdoor exhibits. The venue ranks among the most modern equipped marinas in the region. The 110,000 m2 facility offers mooring for 700 boats and super yachts up to 85 meters in length.

On display will be latest in the boating industry: dreamboats and super yachts and every type of watercraft, big and small, water skiing and jet skiing, fishing and cruising, diving and snorkeling, water and under water technological novelties from the world’s leading boat builders and fitters of super yachts and comfortable cruisers. On site, renowned experts will provide professional advice on all boating and water sports related questions.
The 2nd International Conference on Seafront Development & Real Estate in the Middle East is designed to be the largest gathering of its type.
For the second time, marine industry decision-makers will converge on a conference organized by the Arab Marine Industries Association (AMIA) in collaboration with The World of Boats and Yachts magazine concurrently with the 2006 Beirut Boat show.

The conference will be the right time and place for professionals and decision-makers involved in the development of sea front projects to discuss the latest developments, issues, technologies and solutions through knowledge and network development. Keynote speakers at the conference will address the key aspects involved in marina design, management and operations, as well as available opportunities, expertise and technology.

Conference attendees will seize the opportunity to highlight the economic benefits of the undergoing and planned seafront development projects in Lebanon, and the multi-billion dollars projects in Dubai, Doha and Kuwait, cities that are hosting several man-made islands and marinas. Debate will also center around the need for government industry-supporting legislation, notably investment, insurance, and commercial laws to protect local and international private investors.

The 1st Conference in 2004 was a big success. The conference, which was sponsored by EMAAR, succeeded in joining top quality regional and international speakers and panelists who addressed a multitude of registered participants, VIP guests, decision-makers and marine enthusiasts. Satisfaction with the event was very high. The conference highlighted regional achievements in seafront development.

The 2004 conference attracted a wide range of international delegates including: Project owners, government officials and planners, technology and solution providers, private sector investors and developers, multi-national corporations, architects, engineers, construction companies, banks and financial institutions, port and harbor authorities, hotel and retail developers, tourism promotion authorities, leisure developers, real estate agents, academics, journalists and travel press. A similar profile is expected at this year’s event.

The seasonal timing of Beirut Boat 2006, by the end of May, makes it an ideal destination for both business and pleasure. Just a short flight from the Gulf and Europe, Lebanon’s renowned hospitality and unique cultural ambience, not to mention its spectacular Mediterranean coastline and mountainous landscape, provide visitors and exhibitors with an unforgettable experience. Beirut is home to luxury hotels from almost every leading chain and world-class resort facilities that are only matched by the country’s natural beauty.

is this place at the marina near zalka...or at the waterfront near the corniche?

is there any photos of the Profect and what there are doing so far .. i remember when i was in Lebanon in 2004 that area all empty i wounder it will like when i c it in the end of 2006

At land is reclamed from the sea right ?

wait...ok i may be lost...so help me out here. my husband told me where this land is..(the marina in east beirut) near royal park hotels. so far all they have done is dug holes(and the holes were there when i arrived in june last year) and now they are just growing grass in them ..and the fire dept, uses the space to start fires and train the firefighters to put out fires(lool we seen this last time we were there)...and everyone who visits it is using the holes as a large garbage bin.

im sure once this project is done it will be beautifull..but you know what sucks about the view from this marina....is that when you look twords beirut from the sea....the 1 thing that stands out..is the landfill. it really ruins the view!!

^^ Well soon the landfill will be gone (meaning it will fill in the rest of the land), and about the marina, I already saw them constucting buildings there last summer and the marina is reall nice and clean, its a park where most people take their kids to ride bikes, etc

what do mean it will be gone? they will change the place to dump beiruts garbage?

I don't know when but they will recycle the landfill just like the old one that used to exist near Beirut Marina.

no i am talking about the landfill(the dumb) where they dump all of beiruts garbage. its not at the marina that i am talking about. im talking about that big brown hill u see when looking tword beirut from the marina(its somewhere near geant or doura) but you can see it when you look to beirut across the sea from marina..its so ugly!!!


i think maybe i confused a few of you. not empty land...a landfill(a garbage dump)

no its not owned by soldiere. its a dump. my husband said its now closed. he said no hotels. but they were thinking of making it a park(how nasty huh?) but he said as of now there are no plans for it. and it is at doura.
but the one i think you are refering to in biel is near the ocean front right? bcz last month whene we were walking downtown we noticed that they were digging.

Hey guys,here's a hendering for the project,but i guess it's not the final one,koz it's one of others in competition,this one designed by pierre el khoury in collaboration with skidmore,Ownings&merrill.


http://www.pierreelkhoury.com/images/project/271.jpg

sooo im really confused r they still going to make the marina city or what

No, this project is being studied. Nothing till now.

I'd like to see the huge nice building in the horizon in the upper right hendering coming into life.:D

the whole area of matn coast is undergoing massive construction.and yes,i believe the still wanna go for this project.

Some construction at the Dbayeh Marina (MJK):

http://img219.imageshack.us/img219/5625/dscn3904hq7.jpg

http://img219.imageshack.us/img219/3742/dscn3907qf0.jpg


http://img219.imageshack.us/img219/7267/dscn3931gl5.jpg


(on the right)
http://img219.imageshack.us/img219/5665/dscn3908mr8.jpg

Very nice!

Looks huge...!

Here are some renderings by Nabil Gholam:

http://www.ngarchitecture.com/LIBRARY/images/littoral/litmarina-3d1g.jpg

http://www.ngarchitecture.com/LIBRARY/images/littoral/litmarina-3d4g.jpg

looks Fanastic ! cant wait when its all done !

I like Nabil Gholam-s rendering more than the one from Pierre El Khoury.

But they should have included a highrise hotel or something to the project.don't u think so????

yeah two highrise buildingswould make this project perfect.

Look Who's Sailing In

(July 2005 No.73)



In Lebanon’s marinas, the trend is toward constructing a happy haven for more and more 65-meter super-yachts

By Peter Grimsditch


While the joseph khoury Marina cost 70$ million to build, it banks on returns from building up the surrounding area

Providing safe mooring for the growing number of floating toys is almost a by-product of Lebanese marinas. More important, even for the showpiece Beirut marina, is the added value they give to the surrounding area. In Dbayeh, the Joseph Khoury Marina cost $70 million to build and provides a much smaller return on the investment than stashing the money in a bank, even at today’s low interest rates. The 700 berths are less than one third occupied. Downtown, the numbers look better – Beirut marina is 60 percent taken up – but the project is seen less as a commercial venture in its own right than as a mega magnet for the rich and the not-so-rich to spend their money in the immediate surrounding areas.

Just as the establishment of the Jbeil campus of the Lebanese American University had the subsidiary purpose of seeking to increase the attractiveness and value of the adjacent hilltop land, so in their own slightly different ways marina operators are trying to follow the same principle.


The Khoury marina is the sexy starlet to attract interest and massive investment in the construction of what virtually amounts to a mini city, immediately to the east and south of the site. Plans include the almost inevitable five-star hotel, three major shopping malls, restaurants and a mass of apartment and bungalow complexes that can be marketed as “overlooking the marina”.


If strolling along the seafront and eating in the waterside restaurants of Cannes or Nice brings with it the bonus of viewing with envy the sleek millions of dollars worth of floating luxury, so Lebanon has adopted the principle with enthusiasm.




Marina St Georges


Even the smaller marinas are seen as being commercially more important for enticing customers to the adjoining beach resorts than for generating significant income of their own. If all 35 berths are occupied for the season, the slots at the marina at the Riviera Hotel on the Corniche bring in gross revenue of $75,000 a year. Since the entire coastline is owned by the state, nearly half of this goes straight to the government for leasing the requisites amount of seafront. When another $20,000-
$25,000 is deducted for staff and maintenance costs, the bottom line comes in only marginally above break even.

Yet it is viewed as contributing as much to filling the restaurants, bars, pool and sunbathing area as that other prized Riviera asset, its reputation for having more examples of bikini-clad beauty per square meter than most other places in the country.



First down the slipway



Among the first people to appreciate the sex appeal of boats were the operators of Holiday Beach nearly 20 years ago. As part of its progression and conversion from a hotel to a chalet and beach resort complex, the owners, Dog River Holiday and Tourist Center, decided to plow back part of the proceeds from selling chalets and apartments to constructing the marina. It cost LL15 million but that was in the days when the value of all those zeros added up to around $5 million. Some 75% of its capacity of 150 boats is taken up with mainly Lebanese-owned and domestically registered craft. Even so, it attracts some foreign vessels and last month (for lack of space) diverted to Aquamarina a few miles higher up the coast at Tabarja a dozen visiting sailboats that had crossed to the Eastern Mediterranean from Canada, the US, England and Belgium.


Part of the deal for boat owners is the option for an extra $350 a year of five passes into the resort. Although Holiday Beach marina charges are much lower than those further south, this sum is still a relatively insignificant item on the total bill. A ten-meter boat costs around $2,500 a year, just over half what it would cost in Joseph Khoury, Beirut or the Riviera. The rule of thumb is that moorings north of the Nahr El Kalb tunnel are much cheaper than those nearer to the capital.



Follow my leader



A decade later the Riviera followed suit and spent the same amount as Holiday Beach. Cost increases over the years ensured that the Riviera received only 25 percent as much marina for their $5 million. Its more easily accessible location – for Beirutis anyway – allows it to charge $400 a meter, almost the same rates as the much larger Beirut and Joseph Khoury marinas.


In common with most other operators, the Riviera offers free daytime mooring for visitors. In any case, whatever few dollars might be charged pale into insignificance compared with the potential spending power of a boatload of people intent on eating, drinking and enjoying themselves in the resort.


The marina, like the hotel, is owned by developer George Zakhem and his brothers and Nizar Alouf. Although there is potential for some expansion, there are no plans to do so. A bigger space may slightly increase the number of boats but the investment wouldn’t add anything extra to the current glamour quotient.


Aquamarina, another product of the post-war era, cheerfully admits that it doesn’t make a penny out of parking boats. The two-phase chalet and cabina complex was a product of wartime and was built as shells rained down in 1978 and 1984. Construction of the marina brought its own problems too, especially as the choice of following the line of a natural sheltered site incorporated sea depths of up to 15 meters, several times the figure actually needed. Dealing with such deep water increased the costs of developing the adjacent jetties. And in the realm of ‘it’s a small world’ whatever the depth, Aquamarina was built by Joseph Khoury, the contractor who owns the marina that bears his name in Dbayeh.



In at the launch



Seeing the established examples and success as a marketing tool for their companion resorts, the Mővenpick Hotel and Resort in Raouche had the complex designed to include a marina from the outset. When it opened in July 2002, it did, however, reintroduce a different concept of how it gets an income from the moorings. They are sold on 99-year leases rather than being made subject to yearly rental charges. The smallest, 2.5 meters wide by nine meters costs $32,000. The largest is five meters by 20 meters with a price tag of $105,000. In addition, maintenance charges starting at $800 a year for smaller boats cover electricity and water charges, as well as security and assistance from the marina staff in mooring. Before that, Aquamarina had been marketing “berths for life” and succeeded in ensuring that around 60 percent of the marina occupants also have either a chalet or a cabina in the complex.


Up to last month, 85 of Movenpick’s 140 berths have been sold, with the vast majority being bought by clients who similarly have also taken a chalet or a cabina in the resort. Ownership of berths adds to the place’s exclusivity but it also puts restrictions on allowing external boats to visit the marina. They are allowed in only by invitation of an existing owner and do not gain access to the resorts facilities. At Aquamarina, visitors are welcome to moor during the daytime and gain access to dining facilities but like Movenpick the pool and the other facilities are off limits.


Unusually the marina entrance faces south, which makes a part of the anchorage more vulnerable to the ravages of winter weather from the prevailing southwesterly winds. It does, however, have the advantage of keeping the approaching boats well away from the beach area on the opposite side of the complex. Even so, the operators say the innermost sheltered areas are suitable for boats to be left there in the winter.


Although most marinas of all sizes advertise themselves as all-year-round, the unpredictability of winter storms, especially in the past two years, has reduced the only winter moorages confidently deemed safe to Beirut Marina, where $150 million was spent on sea defenses, and Joseph Khoury at Dbayeh.



License to spend money



Winter or summer, the bottom line for the owners is that buying a boat is the same as acquiring a license to spend money. Calculating the first expense – the cost of a berth – does not depend solely on the boat’s length. There has been a military debate for years about the respective merits of having short, fat warships or long thin ones, with each having staunch defenders. In leisure boating that doesn’t apply. Although it doesn’t take a technical expert to figure out that as boat get longer they also get wider, marinas have their own methods of calculating how much space in total a boat occupies. At Aquamarina, it’s the beam, or width of a vessel, that determines the cost of moorage, not the length.


At the downtown marina, every boat over 10 meters long is charged on the number of square meters the vessel occupies. This is calculated by multiplying the length by the width at its widest point. Thus everything afloat is assumed to be a rectangle.

Joseph Khoury operates a slightly different system. Its price range for mooring runs from $350 per meter of length for small boats all the way up to $750 for the super-
yachts. In round terms that translates into around $4,000 (including VAT) per annum for a ten meter boat and just under $50,000 for a 65-meter ocean going vessel.



Getting big and bigger



It is those big, big boats that are increasingly concentrating the mind at both Beirut and Joseph Khoury, the only two marinas in the country capable of handling them. Beirut has completely recast its internal mooring layout to cater for these big boats and the guys at Dbayeh, while already capable of receiving vessels up to 90 meters, also have contingency plans for redesigning their interior. Removal of some of the wooden pontoons currently dedicated for smaller craft would increase the capacity for vessels of 25m-30m. Beirut’s capacity was more than halved as far as the number of vessels was concerned, although the surface area covered by boat remained the same.


Still, many mariners take convincing. At Beirut, the Greek captain of a Saudi-owned 65-meter boat was lying outside the marina entrance, determined not to enter because he said there was not enough room. No amount of persuasion from marina officials could convince him. Eventually the owner ordered him to dock the boat despite his reservations. It has since returned more than a dozen times and on one remarkable occasion Beirut hosted four boats of this size at the same time.



The millions flow in



The principle of allying a land home to a mooring spot is operated at Beirut, Holiday Beach and Movenpick and, when the land is developed, will also underpin the Joseph Khoury strategy. Downtown many of the berths have been leased by Gulf Arabs who are awaiting delivery of a luxury apartment in one of the blocks currently under construction facing the marina. Some of them do not even have boats yet but want to make sure they have somewhere to put it.


Joseph Khoury denies access to the public because it wants to maintain the exclusivity of the place for the day when it, too, will be able to offer luxury homes overlooking a guaranteed berth. The management in Dbayeh sees the market for marina use expanding by around 70 percent in the next five years but also reckon that there is neither need nor room for further expansion to accommodate the increased numbers. Current slack will absorb foreseeable demand.


The same view comes from Beirut. A second marina, around half the size of the current 65,000 square meters, is scheduled to be built irrespective of demand. It is part of the overall Master Plan. However, the current operators foresee a demand anyway.

Both marina operators base this optimism on the premise of stability in both Lebanon and the region, as well as the continued switch in spending of Arab wealth from the West. The aftermath of Arab unpopularity in the West following the attacks of September 11, 2001, continues to bring their money back to the region.



Conclusion


The big money that comes along with the big boats is well on course for Lebanon – provided, as ever, there are no major political or security problems. The current slack represented by Joseph Khoury’s 30 percent occupancy and Solidere’s impending new marina will meet foreseeable demand at the high end. Lesser mortals with lesser boats are also well catered for on the northern half of the coast. The South has no marinas and, with ever-possible interference in all forms of shipping by the Israeli Navy, is unlikely to have any time soon. The South also, because of occupation among other things, is still underdeveloped. The emergence of beach resorts in the past few years may well be followed by adjoining hotels and other facilities, such as ‘glamour’ small marinas along the lines of the one that contributes to the success of the Riviera in Beirut. But like every other idea for enhancing the country’s resources and prosperity, it depends on the ‘situation’ being as calm as the sea.



Formality footnote


There may be a good reason why some sizeable floating gin palaces around these shores carry exotic ports of registration far away from Lebanon. If, as Shakespeare maintained, the evil that men do lives after them, the Lebanese have retained a wartime reputation for using boats to smuggle weapons, drugs and people. According to experts in Beirut, this almost guarantees extra checks and time-consuming searches in foreign ports. However, entering Lebanon with a boat registered abroad is not without its problems. Having completed the formalities to enter, say, Beirut, a vessel must undergo the whole process of leaving the country and re-entering, even if its passengers wants only to go off for lunch in Batroun.

thinking of this project, Has anything been done yet

When you look at google earth, the marina itself is completed but they didn't start with the buildings. So people actually use the marina, don't they?

The marina is in use...it also hosts Beirut Boat show

on wikimapia some buildings are built on that plot allready
a Convention Center

With global warming, the Marina might be submerged by the sea...

with global warming, all of beirut (and hundreds of other cities) might be submerged by the sea.

^^Not really,Beirut is not 'LOW'

^^It depends where. DownTown(near the marina) is "low" but Raouche, achrafieh etc is "high"

alot of cities in Lebanon could go down under water

ANy updates on the Marine CIty Liban project? did they drop it or still on hold?

I was just readin gabout the Porto Montenegro project...this project is the same size and wow if done ...we can be Cannes or Monaco..

What is the Porto Montenegro project? is it the contruction of the Dbayeh Marina? By the way doen anyone have a clue what will hapopen to all this space?? Is it going to be empty for long? Or are there eventual plans for it?

http://www.waterfrontcity.com/

sounds very interesting ... any further details ?

Master-planned Community 'Waterfront City' Unveiled Yesterday On-site

Beirut, July 13, 2011 - Waterfront City, the flagship project to line the Joseph Khoury Marina stretch, was launched yesterday, in a breathtaking ceremony on-site. Hundreds of guests, partners and members of the press gathered on the vast project site, where the much-anticipated grand-scale master planned development will rise from, to witness its unveil. The project, as was confirmed, will include residential, commercial and leisure facilities, to unfold in multiple phases over the next few years.

http://www.zawya.com/pr/images/02_2011_07_14.jpg

Yesterday, on July 13, 2011, Phase One of Waterfront City was launched, which will include 7 unique buildings, an uplifted promenade with cafes, restaurants and a retail zone. The project, located on the Mediterranean Sea, approximately 15km north of Beirut, is a product of a strong joint collaboration between Ste Joseph G. Khoury et Fils Holding and regional developer Majid Al Futtaim Properties.

Covering a total area of over 193,600 square meters, Waterfront City will serve as an unparalleled development in Lebanon, in terms of scale and offerings. With over 5,000 luxurious residential units of varying sizes, catering to all the modern demands of the Lebanese buyer; a full-fledged commercial district, complete with a grand international shopping mall and numerous dining and entertainment options; along with a renowned hotel chain.

"With Waterfront City, we reaffirm our commitment to offer the Lebanese population only the finest of residential and commercial spaces, to create an unmatched community within the metropolitan city of Beirut," said Alain Bejjani, member of the Board of Directors for Waterfront City, at the event.

The master-plans of the development have shown that it will be built around the famous Marina Club, offering residents an exclusive and calm lifestyle away from the city. A newly developed health club, gym and year round swimming pool will also be available to the residents to enhance the lifestyle offering and ensure convenience for active residents.

Walid Khoury, CEO of Ste Joseph G. Khoury et Fils Holding outlined the plans for this development that have been underway for numerous years now, and highlighted that only through the partnership with Majid Al Futtaim Properties, could they be realized.

Waterfront City is in fact part of a one million square meter reclamation project completed in 1997. All infrastructures, such as parks, roads, footpaths, lighting and security, will be upgraded by the developer. The entire area where Waterfront City will be built is protected by well established town planning rules to ensure the vision of the project is maintained.

Waddah El Solh, Country Head for Majid Al Futtaim Properties in Lebanon, shared the vision of the holding with the guests, stating that, "Majid Al Futtaim Properties has a long term commitment to this region and has more projects planned. We are bringing that same philosophy to Beirut, with the construction of the Beirut City Centre shopping mall, and now the Waterfront City project," he concluded.

"The architectural plans for Waterfront City that are currently underway will fuse different elements to enrich the project. It will offer residents a way of life, never before seen in Lebanon," said Elie Gebrayel, Chairman and CEO of ERGA Group, the project's architects and engineers. ERGA Group, along with SB Architects (from the United States) have joined forces to complete the Master Plan as well as the conceptual design of the project.

Invitees were able to experience the vastness of Waterfront City, as the event launch was planned on-site, with a specially-built platform extending to cover the first phase. The unmatched views of the vast horizon, the marina, along with mountains and the cityscape, were visible from the event site, giving guests a feel of what the project will offer.

For more information, visit www.waterfrontcity.com .

© Press Release 2011

http://www.zawya.com/story.cfm/sidZAWYA20110714103246

http://i1022.photobucket.com/albums/af347/dharma815/1-4.jpg

Finally some action in that area!... hopefully there will be as much green spaces there like in the plans!

http://images.naharnet.com/images/10018/w460.jpg?1310723996

not a big fan of those dubai-esh mass block projects

^^ it's just a row of 7 buildings :D i was expecting a REAL PROJECT for the area.

sexy ad

DVdbeWaImkw

More than 60% of Waterfront City's phase one sold in one month


Sales of phase one of Waterfront City, the luxurious flagship project to line the Joseph Khoury Marina stretch, opposite Dbayeh, have soared up to 60% in one month. The joint collaboration between Ste Joseph G. Khoury et Fils Holding and regional developer Majid Al Futtaim Properties captured the interest of the Lebanese community, with almost 95% of the deals sealed by Lebanese.
Ar

The recently opened sales center at La Marina Joseph Khoury anticipates sales to ascend; fulfilling the project's aim of creating a new community that shares the trendy, classy and modern lifestyle of the Waterfront City.

Phase one of the project which has acquired 62% in sales, consists of 7 unique buildings, an uplifted promenade with cafes, restaurants and a retail zone. Only 6 buildings out of the 7 have so far been released for sale on July 14th. Sales at The Promenade, the direct marina front, accumulated up to 82% of the units that were released.

Covering a total area of over 193,600 square meters, Waterfront City will serve as an unparalleled development in Lebanon, in terms of scale and offerings, catering to all the modern demands of the Lebanese buyer. With its exclusive and calm lifestyle, Waterfront City affirms its commitment to the Lebanese population by offering the finest of residential and commercial spaces, to create an unmatched community within the metropolitan city of Beirut.

Due to the demand from the local population, further marina front apartments, as well as the first office units are due to be released in the next 6 months.

http://i209.photobucket.com/albums/bb2/Htlebmn/cid_BFFAE6EE-5C08-4042-9779-13C435B313CF.jpg
http://i209.photobucket.com/albums/bb2/Htlebmn/cid_4D2C8232-680C-49CF-B42E-663E53789304.jpg
http://i209.photobucket.com/albums/bb2/Htlebmn/cid_2F4F0FF2-950A-4BB5-8080-A5299C0F76AE.jpg

Waterfront City project promises to create more jobs
February 09, 2012 02:54 AM
By Elias Sakr
The Daily Star



BEIRUT: Your home, your office, your favorite restaurants and shops, an entertainment park for your kids and much more, all in one complex. An integrated community to the north of Beirut is what one real estate developer is promising to deliver as early as 2014.

Fifteen km northeast of Beirut on the seafront of Dbayyeh, Waterfront City, a nearly $2 billion investment that will generate more than 10,000 jobs, will be completed in four phases over the next 15 years. The first phase is expected to be completed in two years, including seven buildings, cafes, restaurants and a retail zone.

The project, a joint venture between real estate developer Joseph Khoury holding and Dubai-based Majid al-Futtaim properties, is the first of its kind in Lebanon, offering the Lebanese an alternative residential and business center to the crowded districts of Beirut.

“Blending between the urban-like environment of the capital and the refreshing tone of the Metn area, Waterfront City will stand as a new model of an integrated society,” head of Business Development at Majid al-Futtaim properties Alain Bejjani says.

Bejjani says Waterfront City would not only offer its residents the business facilities of Beirut but also a community experience with all the amenities that cater to the various segments of the market, including middle- and high-income young couples, families and executives.

“The vision is to create a city anchored by a very important retail destination, hotels, residential units, an office park ... in an integrated way that provides a lifestyle proposition on the Mediterranean that is totally different from what you can find elsewhere in Lebanon or the MENA region,” Bejjani says.

“Waterfront City will provide all the modern business requirements while being a living space destination for people looking to buy an apartment as their primary investment.”

About 75 percent of residential units yet to be completed in phase one were so far sold to clients, 95 percent of whom are Lebanese.

The entire project covers 193,600 square meters of land, including 5,000 apartments, office spaces, an international hotel, a shopping mall and diverse community amenities.

The Waterfront City is part of 1,000,000 square meters of Joseph Khoury’s reclaimed land and includes a Marina that accommodate yachts and small- to medium-sized boats.

The execution of the remaining phases mainly depends on the demand for the units, Bejjani says.

“We are seeking to build a vibrant living space and community rather than another empty area. The residential units range from two-bedroom apartments to penthouses that were being sold at a starting price of $2,800 per square meter up to $6,000, catering to the various sectors of the market,” Bejjani says.

While today’s technology allows businesses to operate remotely, easy commuting remains an important missing factor in many business communities, according to Bejjani.

“One of the main drivers of a business is how pleasant the environment is, which Waterfront City is offering as part of an integral community,” Bejjani explains.

Waterfront City will most likely turn into a tourism destination for Lebanese and foreign visitors looking for entertainment at the Marina front.

The project’s positive economic impact on the Metn region is becoming more visible with the employment of construction workers, architects and designers, among others, with an estimated 10,000 jobs to be created by the time the project is complete. After that, hiring in hotels, restaurants and retail stores begins.

Unlike other business developers, Bejjani says that Waterfront City owners aren’t interested in drawing investors or listing the project on the Beirut Stock Exchange as in the case of the giant real estate development company Solidere.

“We are the investors and we are committed to long-term property and asset management,” he says.

However, privately owned outlets within the project will still have to comply with a set of business-friendly regulations imposed by the developer, such as the offerings of restaurants, in a bid to guarantee a quality environment and a pleasant stay for residents.

While outlets will be open to the public such as the promenade and the Marina pedestrian area, residents will have privileged access to court yards among other parts of the project.

The developer will also handle maintenance and infrastructure works.

“All infrastructures such as roads, footpaths, lighting and security – are being handled by the developer to guarantee a pleasurable experience for residents and visitors,” Bejjani said.

The developer is cooperating with relevant Lebanese authorities to ensure ease in incoming and outgoing traffic.

“Even shortsighted developers should be aware of the importance of issues such as traffic because it will harm their project in the first place as visitors will shy away from a congested location and we are very aware of this,” Bejjani says.