Phoenician Village

Beirut Central District - Beirut, Lebanon


www.phoenicianvillage.com


Levant Holding Company – In sponsorship with Al Sayer Group, executes one of the biggest real estate projects in the Solidere area of Lebanon.


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The main features of Levant Holding's project, which is considered one of the biggest real estate projects in the history of Lebanon, are:

Covers a 205,000 square meter area.

Located in the heart of Beirut.

10 minute drive from the airport and 500 meters from the Nejmeh Square.
Includes: offices, residential complexes, shopping malls, hotels, cinemas and much more.

A high rise of 160 meters.

Panoramic view overlooking the Mediterranean Sea and the surrounding mountains.

Designed by world renowned architects.

Also worth mentioning is that Al Sayer Group which has dedicated all of its efforts to make Levant Holding's project a true success in Lebanon, will be offering all its means of support in executing this project, starting from its confidence that the return on this investment will be the greatest in the Mediterranean Sea region.

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wow doesn't look that bad, only way to find out is when they will start building it

I think I like this project a lot better now that I have seen these renders, but Im still not too excited about the facade on these towers...but other than that, its a great addition to the skyline.

i think your 6th photo didnt upload. other than that they look nice, any particular why lebanon doesnt have its own forum here and places like Bahrain do?

^^ I fixed the photo, I was making them larger. And good question about the forum, thats what we all want to know...

Oh my goodness! :eek2:

I am so envious of Beirut!
I wish Athens had these projects :(

That's great for Beirut! :)

looool. it looks like that will be built on the same place everyone gathers for marches. i guess we will have to find a new marching area. no but really it looks cool. right now on half of it is just a humongous parking lot that never seems to be even 1/10 filled with cars, and the other half is just unpatched land

OK give these people there own forum!

These renders make the project look way better. I can't wait for it to be built :)

what does renders mean?

Phoenician Village

http://i35.photobucket.com/albums/d184/rhmud/Lebanon/91767d1a.jpg

This is a render. A render is a drawing which shows what a project might look like when completed ;)

thanks:)

Impressive projects. I guess it goes well with Lebanon. In Dubai there are more and more commercials for Lebanon's Real Estate, a nice example that Lebanon makes progress.

Nice renderings. Where did you find them?

^^They were posted on the Al Sayer official website... interestingly they didnt refer to the project as "Phoenician Village" not once on the site (although it is not the website for the actual project), so I wonder if that will be the final name?

What do you all think about the name, I like it a lot.

It is a nice name, very representative of the country.

Do you have the link to the page on Al Sayer's website?

Here is a direct link to the Al Sayer site where they review the project:

http://www.alsayer.net/docs/xweb/webindex.asp

Here's some more info on the Levant Holding company:


Levant Holding to raise capital
April 26, 2006

Kuwait City

Kuwait-based developer Levant Holding said it wants to increase its capital 120 times to KD120 million ($411 million) as it gears up for a major development in Lebanon.

'The company is seeking to raise up to KD119 million by offering to prospective investors to subscribe in 1.08 billion shares,' the company said in a statement.

The company -- established by Kuwait's Al Dhow Investment Co to invest in developments in the Levant -- Syria, Jordan, Lebanon -- has paid-up capital of KD1 million.

The shares, to be offered by April 30 in a private placement subscription, will have a par value of 100 fils and a fee of 10 fils per share.

Its Lebanon project -- The Phoenician Village -- comprises hotels, residential, commercial and office compounds over an area of 50 acres in the heart of Beirut. The company said in an executive summary the project is expected to generate $1.3 billion in sales.

'This project will be a landmark in Central Beirut,' said Nasser Chamaa, chairman of Lebanese real estate giant Solidere, which is in charge of reconstruction in Beirut after Lebanon's 1975-90 civil war.

'The size of the project which exceeds $1 billion reflects the importance of Beirut as the capital for all Arabs,' he said.

Levant Holding's current capital of KD1 million will rise to KD120 million after the issue.

More articles:


Levant Holding launches huge real estate project in Lebanon; 1.19bn shares on offer
By Francis A. Clifford Cardozo - Arab Times Staff

KUWAIT CITY: Levant Holding, a subsidiary of Al Sayer Group on Tuesday announced the launch of one of its maiden real estate projects in Solidere, Beirut at an event held at the Courtyard Marriott. The salient features of Levant Holding’s project, which is considered one of the biggest projects in the history of Lebanon are: It covers an area of 205,000 square meters and is located in the heart of Beirut. It is ten minute’s drive from the airport and 500 meters from the Nejmeh Square. The project is being designed by world-renowned architects and has a Panoramic view overlooking the Mediterranean Sea and the surrounding mountains. Through video presentations speakers explained various projects in depth, as the event brought together investors, businessmen and members of the press.

Investment
Talking about the investment climate in Lebanon, Dr Mansour Barakat of Audi Bank observed that the country has large growth reserves and appealing business environment in addition to attractive investment framework. Barakat, added by way of explanation that, “the private sector is the backbone of the Lebanese economy with diversified private sector activities and wide pool of financial resources. The country is open to foreign investments with solid corporate earnings coupled with strict regulatory supervision.”

“High liquidity is mitigating concerns about confidence crisis with adequate capitalization ratios exceeding the required standard. The country has accommodating market framework with no restrictions pertaining ownership. There is a strong cooperation among stake-holders for the capital market development,” he added.

A Kuwaiti shareholding company, Levant is offering for subscription, 1,190,000,000 shares, of which 1,080,000,000 shares will be offered for subscription to prospective investors and each share has a par value of 100 fils. The company is planning to raise up to KD 119,000,000 by offering to the prospective investors 1,080,000,000 shares representing, after the capital increase, approximately 90 per cent of the capital while the remaining shares of the company — ten per cent — will be divided among the existing shareholders.

Nasser Al-Shammaa, Chairman of the Board and Managing Director of Solidere talked about the importance of Solidere’s strategic location at the center of Beirut as it represents the business and touristic hub of Lebanon, and underlined the importance of Levant Holding’s project. He went on to add that the new project is considered as one of the most important investment projects in the Central Beirut District. Nasser Mohamad Al-Sayer, Mohamad Nasser Al-Sayer and Sons’ Chairman of the Board, in his speech welcomed the attendees, and gave brief introduction of Levant Holding saying, “it was established with an aim to give a platform for investors wishing to invest in the Mediterranean region.”

Al-Sayer also spoke about Lebanon’s strategic location that makes it the heart of the Middle East, and the meeting point of the three continents: Asia, Europe, and Africa. He called upon investors to capitalize on the project and added that Al Sayer Group will be the core foundation of the project through Al Dhao Investment Company. Levant’s main objective is to conduct its operations in compliance with Islamic rules and principles. The company will be guided by a Sharia supervisory committee appointed by the Board of Directors.

^^They were posted on the Al Sayer official website... interestingly they didnt refer to the project as "Phoenician Village" not once on the site (although it is not the website for the actual project), so I wonder if that will be the final name?

What do you all think about the name, I like it a lot.
i really like that name

I don't like this project it doesn't suit martyrs' square at all! :(

^^ Thats what I thought at first, but the more I look at it the more I like... dont forget Martyrs Square will ALL look very different soon because of Beirut Gate, Saifi Village II and the residential buildings betwen Virgin Megastore and the Mosque...lots of projects going on there...

^^ Thats what I thought at first, but the more I look at it the more I like... dont forget Martyrs Square will ALL look very different soon because of Beirut Gate, Saifi Village II and the residential buildings betwen Virgin Megastore and the Mosque...lots of projects going on there...

Yes i know but i hope they can give it the glamour it had before 1975! i mean that was the heart of Beirut i hope it'll be the heart again!

hi leb it...downtown looks great already...but i wasnt alive beofre 1976...so i wouldnt be able compare the before and after

Wow, very nice project. Wonder when they'll start digging.

Will there be parking lots (with 1750 L.P.) for people to park their cars? If not, will there be parking spaces in these mega-structures with affordable prices? :?

yeah there seems to be a parking crisis in this country. theres never anywhere to park. and the streets are so small that unless you are on a main hightways you have to play twister to get around cars to get where your going.

LOl i never herd of a Parking crisies hahahaha

Jayme to find a parking in Beirut takes forever!! To many people in the capital

Yes i know but i hope they can give it the glamour it had before 1975! i mean that was the heart of Beirut i hope it'll be the heart again!


When I look at pre-war photos of Martyrs Square I really dont think it was THAT glamorous... I mean it was nice but there was really nothing special about it, just some low-rise boring buildings and it was a crowded area filled with Bus stops and taxis... I wasnt born then so I dont really know Im just saying what I have heard and saw in pics.
Point is, the new square is amazing, and the fact that the greatest Lebanese martyr is burried there adds so much symbolic value.

Jayme to find a parking in Beirut takes forever!! To many people in the capital
to true!! the best parking lot is spinnys grocery store in achrafieh..looool. geant is cool to but i think it is only 1 level. t
hey need to start taking these little block parking lots that are only ground level, in the neighborhoods and adding a few levels to them. bcz if you dont park in a private parking space, you run the risk of having your car swipped by other cars passing.

also where there are events the parking gets to filled. the only place i never seen filled with cars is the parking lot near martyrs square. but summers comming so maybe it will fill up

Phoenicia Village: Beirut's largest development yet
Project includes shops, offices and flats



BEIRUT: The development of Phoenicia Village, the biggest investment in Beirut's history, is expected to begin in June, Salah al-Mayyal, managing director of Levant Holdings - the shareholding company funding the project - said in an interview with The Daily Star.

Flanked by the Mediterranean Sea and Martyrs Square, the four-building, 22,000 square meter (207,000 of which is built-up area) complex will encompass two plots of land in the Beirut Central District. About 60 percent of units will be residential apartments, 20 percent will accommodate offices, 15 percent will be retail outlets, and about 8 percent will be hotels.

Mayyall says that Phoenicia Village will put Lebanon on the map as an attractive climate for foreign investment.

"Gulf investors always express interest in Beirut, but they are reluctant. We strongly believe that real-estate prices in Beirut are still under-valued, and the political developments since former Premier Rafik Hariri's assassination will lead to real-valuations in the future."

The Cabinet ministers green-lighted the land acquisition on April 13 - in only six days - and according to Mayyal the government, especially Prime Minister Fouad Siniora, has been very supportive. The same cannot be said of the Investment Development Authority of Lebanon however, which he calls "a disaster organization" that "needs to keep up with what's going on."

Levant Holdings, a Kuwaiti company, will finance the project once it raises $410 million in start-up capital. Since Levant issued an initial public offering four weeks ago, 60 percent of shares have been purchased and the expected delivery date is 42 weeks from June - when the fund is expected to close. The remainder of financing will come from prospective occupants, and there is a possibility of another public offering after construction has started.

Since it is a Kuwaiti company, 51 percent of shares must be held by Kuwaiti nationals or corporations, though the target is for Lebanese citizens to own 25 percent of shares.
http://www.dailystar.com.lb

Since Levant Holdings has regional ambitions, the decision to spearhead its first project in Lebanon - a country for which sustained economic and political stability is less than certain - seems risky.

"That's the million-dollar question," says Mayyal, though for him it is worth closer to a billion. He argues that the Syrian withdrawal and the "internationalization" of Lebanon's problems ensure that investment will be protected. The national dialogue and the upcoming Beirut I donor conference - which will hopefully inject $6.1 billion into the local economy and reduce the public debt-further - bolster confidence for foreign investors.

Lebanon's booming real-estate sector is testament to this confidence. According to Bank Audi research, the value of property sales has grown from under $46 million in 1998 to over $64 million in 2005. Mayyal's experience bears this out; he says the valuation of the land purchased by Levant Holdings nine months ago has already risen 30 percent.

"If our company is making unrealized gains without even starting the building process, you get an idea of what an investment opportunity Lebanon is. This property has been around forever and we developed it a little bit and are already getting crazy offers."

He noted that since Beirut's real-estate market is also highly dollarized, it remains relatively impervious to domestic currency fluctuations.

He added that investing in countries whose "economies are imbalanced on the whole" is inherently risky, but imperative in today's market. Mayyal argued that the excess liquidity in the Gulf region should be mobilized to correct these imbalances and develop national service sectors.

"I think it is a disaster investing only in capital markets," he said, "and it is the responsibility of the private sector to create investment opportunities that lead to long-term growth."

this Phoenician village looks awful!!!

this Phoenician village looks awful!!!

I totally agree! it doesn't suit Martyrs' square at all!

yeah it doesn't suit martyr square but you never know, we have to wait and see how it will turn out!

http://img117.imageshack.us/img117/9431/phoe50ad.jpghttp://img341.imageshack.us/img341/8985/phoe13fi.jpg
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dont we have already a thread of the Levant Holding?

:)

are these renders confirmed ?

and am i the only one who thinks the towers look hideous ?

lol no Dark you're not the only one that thinks that lol, and yes it is confirmed, they are starting this June, maybe it will look better in real life we'll have to wait and see

Maybe they will look better in real life ? u never know and maybe they will inprove it its going to ruin the view of the sea :(

lets start a new business venture .. parking garages! we'd make a TRUCK LOAD of money! of course we'd need to pool like $10 million between land prices and construction! I have 45 dollars and 79 cents in my pocket right now ... any volunteers?

i didn't know... lol

http://www.asharqalawsat.com/2006/05/27/images/realestate.365152.jpg



بيروت: ريما نزيه صيداني
في استثمار هو الاكبر من نوعه، بدأت مجموعة كويتية في تطوير مشروع سكني وتجاري ضخم في ساحة الشهداء بوسط بيروت يمتد على ارض بمساحة 217 الف متر مربع قرب مبنى صحيفة «النهار». وستناهز المساحة الاجمالية لهذا المشروع، الذي لم تتم تسميته بعد، 206 آلاف متر مربع فسيضم ستة ابراج تتنوع ما بين سكنية وتجارية وفندق ومجمع تجاري ومركز ترفيهي.
والجهة التي ستنفذ هذا المشروع هي شركة «ليفانت» القابضة، وهي شركة مساهمة مقفلة، واسست حديثاً لهذا المشروع بالتحديد. والمؤسسون واعضاء مجلس الادارة هم: ساير الساير <يتولى منصب رئيس مجلس الادارة> وخالد المشاري <نائب رئيس مجلس الادارة> وصلاح الميال <عضو منتدب> ومساعد الساير وسفير الكويت السابق في لبنان عبد الحميد البعيجان. وتقوم شركة «ليفانت» القابضة على شراكة ما بين شركة الداو للاستثمار <اكبر مستثمر في المشروع> ـ وهي احدى شركات مجموعة الساير _ وممثلة في مجلس الادارة من خلال مالكيها آل الساير، وشركة ثروات للتطوير العقاري ويرأس مجلس ادارتها صلاح الميال. وقد سبق للميال ان شارك احمد الجناحي في تطوير مرفأ البحرين المالي والمدينة الزرقاء في عُمان. والجدير بالذكر ان مجموعة الساير موجودة في العديد من قطاعات الاعمال في الكويت ومن ابرزها حيازتها وكالة سيارات تويوتا ولكزس، ووكالة مقاهي كاريبو كوفي للكويت والشرق الاوسط. اضافة الى وكالات في مجال المواد الغذائية لا سيما الشوكولا، كـ «ميلكا» و«ليو» و«توبلرون».
وتسعى شركة «ليفانت» لتطوير مشاريع عقارية على صعيد العالم العربي. ويتولى بنك عودة اللبناني مهمات المستشار المالي للمشروع.
«الشرق الاوسط» التقت حمد مساعد الساير، خلال وجوده في بيروت، فاستهل حديثه بالقول: «يبلغ رأسمال شركة ليفانت 120 مليون دينار كويتي <حوالي 410 ملايين دولار> وتتم تغذيته من خلال عملية اكتتاب اطلقت منتصف شهر ابريل <نيسان> الماضي وتستمر حتى يونيو <حزيران> المقبل. وتوازي حصة شركتي الداو وثروات 35 في المائة من المشروع. الحد الادنى للاكتتاب 25 الف دينار كويتي ما يعادل 100 الف دولار. ويبلغ عائد الاستثمار 25.4 في المائة سنوياً على مدى خمس سنوات. وقد تم حتى الآن تأمين 60 في المائة من رأس المال. ونتفاوض حالياً مع عدد من الشركات العربية لتدخل كشريك استراتيجي في المشروع. وعلى صعيد آخر، يفترض ان تدرج شركة «ليفانت» في سوق المال الكويتي نهاية سنة 2007».
وعن المشروع، قال: «يتألف المشروع من ستة ابراج ويفترض ان يبلغ ارتفاع البرج السكني 160 متراً والبرج السكني الآخر 140 متراً. اما البرج الخاص بالمكاتب فيناهز 120 متراً على ان لا يتعدى البرج المخصص للفندق 90 متراً. ستنتشر في انحاء المشروع حدائق وساحات خضراء كما سننشىء منطقة تلبي نمط «فاشيون ديستركت «. لم نحدد بعد مساحات الشقق، لكن يفترض ان توازي المساحة الاجمالية المخصصة للشقق 95 الف متر مربع والمساحة الاجمالية المخصصة للمكاتب 41 الف متر مربع. اما مساحة المحال التجارية فستبلغ 30 الف متر مربع».
وعن الاسعار، يقول: «ما زلنا ننهي الرخص الضرورية لاعمال الحفر والبناء، وعملية البيع لم تنطلق بعد. ومن المتوقع اطلاق ورشة البناء بعد ثلاثة اشهر من تاريخ اقفال الاكتتاب، ووفق الدراسة التي اعددناها، فإن معدل سعر المتر في الشقق السكنية سيكون 6800 دولار. وفي ما يخص الفندق هناك احتمال لبيع الارض لسلسلة فنادق من فئة خمسة نجوم، على ان تعمل هي على تطويرها».
ويضيف الساير: «يجري اليوم التفاوض مع اعرق المكاتب الهندسية العالمية لتتولى تصميم المشروع، ومنها مكتب السير نورمان فوستر البريطاني، الذي تولى تصميم اعرق المباني حول العالم كبرجي بيتروناس في كوالالمبور ومبنى مصرف اتش اس بي سي في هونغ كونغ الذي يعمل على الطاقة الشمسية، وجسر الألفية في لندن، والمبنى الجديد للبرلمان الالماني في برلين، اضافة الى برج الفيصلية في الرياض. وفي ما بعد سنختار المكتب الهندسي اللبناني الذي سيتولى التنفيذ. كما ندرس عروضاً عدة من كبرى شركات المقاولات ويفترض ان تتولى اكثر من شركة لبنانية اعمال المقاولات خلال ورشة البناء ما سيوفر حوالي خمسة آلاف فرصة عمل على مدى ثلاث سنوات ونصف السنة». ويؤكد الساير ان المشروع سينجز دفعة واحدة وفي غضون ثلاث سنوات ونصف السنة منذ انطلاق اعمال الحفر. وتناهز كلفته الاجمالية ملياراً و300 مليون دولار، متضمنة سعر الارض الذي بلغ 420 مليون دولار. وحول اهمية المشروع وتوقيته، يقول: «لدينا اقتناع تام بأن بيروت رسخت نفسها كوجهة رئيسية في العالم العربي كمدينة سياحية ومدينة للاعمال، لا سيما من خلال وسطها التجاري، فيوماً بعد يوماً تتبلور صورة الوسط التجاري وتكتمل معالمه، وها هو اصبح عامل جذب سياحي وتجاري قوي على صعيد العالم العربي ككل. وها هي شركة سوليدير تطلق مشروع شبكة الاتصالات السريعة لوسط بيروت، وهذه الشبكة من ارقى ما توصلت اليه التكنولوجيا والمعلوماتية، ما سيساهم بشكل اساسي في توفير العديد من الخدمات السريعة والمتطورة للافراد والمؤسسات على حد سواء، ويجعل من وسط بيروت مقراً ملائماً لكبرى الشركات العالمية. بيروت في حاجة الى مشاريع عقارية من هذا النوع وبهذا الحجم، وما من مغامرة بتاتاً في هذا الامر، وقد قمنا بالدراسات الكافية التي تؤكد لنا ان مشروعنا سيلقى نجاحاً».

it looks so glittery

:cheers:

we dont need 3 threads talking about the same project

they are merged

^^ Thank you!

Some more articles:


The Phoenician Village in Beirut City Centre launched

The Phoenician Village, Beirut City Centre: A major property development project in Beirut City Centre has been announced at a press conference in Kuwait City, hosted by the Kuwaiti Investors Group comprising Al Sayer Group and Al Daw Investment Company, and in the presence of Dr. Nasser Chammaa, Chairman of Solidere - The Lebanese Company for the Development and Reconstruction of Beirut Central District.

Worth over $1.1 billion, the new project comes as part of the development of Martyrs' Square Grand Axis in the Beirut City Centre, which had called for the organization of an International Urban Planning Design Competition that resulted in the participation of over 220 architects and architecture firms, and was won by word renowned firms.

The project, called 'The Phoenician Village', will be developed on a land area of 20,000 square meters, with building rights of 206,000 square meters to create a mixed-use development including residential, commercial, entertainment and business centers. The project is located next to one of the distinguished historical surroundings within the Beirut City Centre, and will overlook the Mediterranean Sea and Lebanon's breathtaking mountain views.

During the press conference, Dr. Nasser Chammaa commented that "the project constitutes the evidence of the growing confidence in investing in property development projects in the Beirut City Centre, and in channeling regional capital for property development in our project, reflecting the significance of Beirut as a City for all Arabs." Solidere recently announced profits of US $108.5 million for 2005, representing a 100% increase on the financial results of 2004. The tremendous growth in land sales during the first quarter of 2006 resulted in land sales valued at US $1.1 billion, which exceeds by 4 times the value of its 2005 sales figures. In addition, further land sales transactions amounting to US $300 million are currently under negotiation.

The Lebanese company for the Development and Reconstruction of the Beirut City Centre, Solidere, is a joint stock Corporation incorporated in May of 1994 through an association of former property rights holders in the Beirut City Centre and cash investors. The Company's capital is $1.65 billion, with shareholders numbering about 35,000.

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Phoenician village: A new $1.3 billion Dollar development in Beirut

The rise in the value of Solidere shares was for a very solid reason. Kuwaiti investors from Al Sayer Group, announced that they intend to develop 1.3 billion dollar real estate project in central Beirut in partnership with Solidere.

This is the second huge project revealed by the giant real estate company in less than two months.

The name of the development will be Phoenician village and will cover an area of about 20,000 square meters or 5 acres.

The built up area will be about 206 000 square meters ( about 2 million Sq. Ft). It will include both residential and commercial properties.

The project will be based on the new design which was selected from 220 offers by international engineers and Engineering companies that have competed for this project, which will be in the Martyr square , in down town Beirut.

The announcement was made in Kuwait by the chairman of Solidere, Nasser el Shamaa. He said "this project reinforces the confidence of the Gulf investors in the Lebanese real estate market" .

He added: "This project will result in an increase in the profits of Solidere. The board of Directors will be meeting soon to declare the dividend that will be distributed to the shareholders.

Chamaa expected the company's net profits in 2006 to "way exceed" the $108.5 million earned last year. "In 2005 we've had a 100 percent increase in profits. So that gives you an idea of how our profits will expand considering that the margins of every sale now is increasing because we are increasing prices," Chamaa said.

Chamaa said Solidere had about $1.7 billion in cash and cash equivalents but no debt.

"We plan to pay it back to the shareholders ... it will be in dividends and share buybacks," Chamaa said

Sources: Beirut Stock Exchange, Ya Libnan, Al Safir

-------------------------------------------------------------------------

Launching of mega-property development project worth over US $1.1 bn in Beirut City Center

A second major property development project to take place in Beirut City Center has been announced at a press conference in Kuwait City, hosted by the Kuwaiti Investors Group comprising Al Sayer Group and Al Daw Investment Company, and in the presence of Dr. Nasser Chammaa, Chairman of Solidere - The Lebanese Company for the Development and Reconstruction of Beirut Central District, s.a.l..

Strong of its previous successes, Solidere is again proud to take part in the launching of another major property development whose total investment value exceeds of US $1,1 billion. This new project comes as part of the development of Martyrs’ Square Grand Axis in the Beirut City Center, which had called for the organization of an International Urban Planning Design Competition that resulted in the participation of over 220 architects and architecture firms, and was won by word renown firms.

The project, called “The Phoenician Village”, will be developed on a land area of 20,000 square meters, with building rights of 206,000 square meters to create a mixed-use development including residential, commercial, entertainment and business centers. The project is located next to one of the distinguished historical surroundings within the Beirut City Center, and will overlook the Mediterranean sea and Lebanon’s breathtaking mountain views.

During the press conference, Dr. Nasser Chammaa commented that “the project constitutes the evidence of the growing confidence in investing in property development projects in the Beirut City Center, and in channeling regional capital for property development in our project, reflecting the significance of Beirut as a City for all Arabs.”

Furthermore, most of the developers who invested in buying property in the Beirut City Center were able to sell their projects in a very short time and with excellent returns on investment, thus proving that Beirut has regained its role and status. All this is a result of Solidere’s achievements in increasing the demand for property development in downtown Beirut.

Solidere recently announced profits of US $108.5 million for 2005, representing a 100% increase on the financial results of 2004. The tremendous growth in land sales during the first quarter of 2006 resulted in land sales valued at US $1.1 billion, which exceeds by 4 times the value of its 2005 sales figures. In addition, further land sales transactions amounting to US $300 million are currently under negotiation.

Dr. Nasser Chammaa also announced that as a result of this incredible success in property development and land sales, the Company’s profits will be strengthened in the coming years. Based on the good results achieved in 2005, “Solidere will be making a dividend distribution, exceeding previous dividend distributions, after the General Assembly meeting in June 2006. Simultaneously, the Company’s Board of Directors has recently decided to propose a share buy-back program, whereby the Company will be buying part of its own shares. These shares will subsequently be cancelled, with a view to increase the value of the remaining shares, enhance confidence in the share on the market, and improve the return to investors in the future.”

This new mega-property development project will no doubt support and strengthen the investors trust in Beirut City Center, and will encourage Solidere to invest its experience in land development outside Lebanon and more specifically in the Arab world. This will positively reflect on the future financial results of the Company, and accordingly on its share value.

© 2006 Mena Report (www.menareport.com)

Lebanon, is becoming nice once more, haha syria.

P.

Here is an image from Google Earth of the plot of land where this project will rise:

http://i35.photobucket.com/albums/d184/rhmud/85f7aaa2.jpg

Lebanon, is becoming nice once more, haha syria.

P.

Lol what do u mean bt haha syria
lol

lol ^^ pretty clear hehe

and beirut, u depress me ... how the hell do u know all this? do u know ur way around beirut? wat about the other ex-pats, do u guys know ur way around beirut/leb?

^^ LOL.... well I love maps lets just say that. I am quite familiar with the map of Beirut as I have walked the streets many many many times. But come on... Martyrs Square is not that hard to find (at least I hope so!)

^^ LOL.... well I love maps lets just say that.

Then this is a must for you:
http://www.zawaribbeirut.com

^^ Thank you LC! This is interesting...

Phoenician Village would be behind and to the left of those trees seen in this pic.

http://img112.imageshack.us/img112/4039/dscn08461wa.jpg

Here is an image from Google Earth of the plot of land where this project will rise:

http://i35.photobucket.com/albums/d184/rhmud/85f7aaa2.jpg

You aren't showing the entire area of the project in that aerial shot from Google Earth. To the north, directly across Trieste street right along the 1st basin of the port, they will build the shopping mall consisting of two low rise buildings there. It will be connected to the 4 highrises on the plot of land you pointed out with several pedestrian bridges that will go over Trieste street. I have a map of the whole project in a magazine I bought. I will see if I can scan it and post it.

Phoenician Village would be behind and to the left of those trees seen in this pic.

http://img112.imageshack.us/img112/4039/dscn08461wa.jpg

thats the second picture i've seen with a hot ait balloon in the background ... is that a common sight now?

^^ There's only one balloon and it stays in the same location just rises vertically. It gives you the best view of Beirut and when its in the air its hard to avoid having it appear somewhere in a pic of the city...

You aren't showing the entire area of the project in that aerial shot from Google Earth. To the north, directly across Trieste street right along the 1st basin of the port, they will build the shopping mall consisting of two low rise buildings there. It will be connected to the 4 highrises on the plot of land you pointed out with several pedestrian bridges that will go over Trieste street. I have a map of the whole project in a magazine I bought. I will see if I can scan it and post it.

Okay then, maybe this is a better view:


http://i35.photobucket.com/albums/d184/rhmud/6aeca20e.jpg

wood that land be big enothe

OK guys,there's a website,still underconstruction,but i think u can see the new rendering there :) it's better now i guess.
www.phoenicianvillage.com

^^ tnxs Hassoun :)

OK guys,there's a website,still underconstruction,but i think u can see the new rendering there :) it's better now i guess.
www.phoenicianvillage.com

Nice! Where'd you find the website?

I just said to myself,hey try www.phoenicianvillage.com :D and it worked :D really,that's what happened :D

I just said to myself,hey try www.phoenicianvillage.com :D and it worked :D really,that's what happened :D

:D

I assume you tried www.beirutgate.com and www.thelandmark.com and did not achieve success with those? :D

lol,YES :D

the site is under concruntion

i went into www.beirutwaterfront.com it been under conrcrtion for 2 years !

I just said to myself,hey try www.phoenicianvillage.com :D and it worked :D really,that's what happened :D

lol

I dont like the Phoenician Village logo (see website)... dont you guys think the background should be purple instead of red? I dont know Im just bored...lol

http://img115.imageshack.us/img115/4294/1kl4.jpg (http://imageshack.us)

- oh yeah you are right the logo is a very simple one. The logo from solidere and emaar are more beautiful.

the logo from foch94 is also a very nice one :)

^^ I like that building.

-----------------

oh thank god i hope they won't build that hideous thing

Not good news.

The managing director of Levant Holdings, the group financing the $1.1 billion residential and commercial Phoenicia Village complex in Downtown Beirut, assured The Daily Star that the group plans to proceed with construction as soon as the country stabilizes.

"We don't know when we are going to start, [but] we felt that keeping the money with us is unethical because our investors can use [it] until the situation gets better in Lebanon," said Salah al-Mayyal in an e-mail.




Dont worry (or celebrate) just yet people.

its not that bad, but there is room for improvement
I rather see another project in its place.

It is really shame seeing this thread at the last page of the Projects sub-category.
According to Solidere's Q4 report, the investors are determined to push ahead for this project.

^^ yup :) We still have hope!

http://img250.imageshack.us/img250/8829/phoenrp0.jpg (http://imageshack.us)

Isa soon we'll hear good news :)

hey, any news about this project, when it is going to start ?

^^ Someone from Levant Holding Company was on kalam l nass yesterday live from down town ... he was talking about the consequence of the new solution on arabic investment ... so i guess we r back :)

^^Do you know if they're going to rerun Kalam l nass? Because I really want to watch it...

^^ i dont think so .......... but i think u can find it online

^^ Did he mention any details about this specific project?

^^ Someone from Levant Holding Company was on kalam l nass yesterday live from down town ... he was talking about the consequence of the new solution on arabic investment ... so i guess we r back :)

so he said they will start construction soon or what???

He said that they "have" a Project called "Phoenician Village" .... but he didnt exactly say when they will start ...

^^ Well at least we know the project has not been scrapped.

^^oh,ok this is good enough.Thanx. did they mention any other projects u know for other Contractors???

^^ im not sure .. didnt watch the hole thing ... but they said in general that No approved project has been canceled

i read in almustaqbal
nabil itani ( from idal ) ; 3 big projects will start soon , the landmark , beirut gate , and PHONICEAN VILLAGE :)

^^ :banana: that's so great ...
thx for the info man :)

^^I posted the article in the Business news thread.

And welcome to the forum Samer! :)

I really like this project but the only thing is that I feel it covers the view of the sea

Hey all,
I got these pictures this morning... bas have no idea what they're about!
Cheers!

http://img361.imageshack.us/img361/7769/dsc05095jo7.jpg
By rabih_alt (http://profile.imageshack.us/user/rabih_alt), shot with W810i (http://profile.imageshack.us/camerabuy.php?model=W810i&make=Sony+Ericsson) at 2008-06-14

http://img293.imageshack.us/img293/3227/dsc05096ap9.jpg
By rabih_alt (http://profile.imageshack.us/user/rabih_alt), shot with W810i (http://profile.imageshack.us/camerabuy.php?model=W810i&make=Sony+Ericsson) at 2008-06-14

^^ Interesting,could be related to the project,could be a stage for a party ? :dunno:

Thats a massive structure ! I wounder what it could be

Isnt that the stage they had for the concerts?

Im not 100% sure but i think this has to do with the maronite church plannning a big "Totweeb" seramony for this new Lebanese saint at the square ..

^^yes,could be,it's on the 22nd of June.Abona Ya32oub el kobashy :dunno: ?

^^ yeah most likely ... and it's Kaboushy

GR8 NEWS!!!!!!!!!!

the website is up and running again and contains more detailed info :banana:

www.phoenicianvillage.com

http://www.phoenicianvillage.com/images/icons/present_1.jpg

WOW i like it more now..I love the "back" makes the first basin a destinatiuon when they make it a cruise terminal.

I emailed them a week ago for status with no reply...Great news

I Dont know about this project, every time I look at it, I pull a face that means I dont like it, Hopfully it will look better onces its built.

^^ i think that too .. but the rendering's design (specially the 2 towers) is not clear so i think it will look different ones completed

The blue tower looks akward, I hate how it just sticks out abit, i cant explain what I mean.

I think once Landmark and Beirut Gate are built it wont seem so massive...At that time you will have all the corners (or gates)of the BCD occupied by towers. You also have the Murr tower and new land construction..I am just concerned about feeling "surrounded"...but this building was designed for sea views etc...hopefully they are designing them to alleviate this..

A delegation from the company building the Phoenician Village met today with President Sleiman in Baabda palace.they said they r going on with the project but didn't say when exactly they r going to start Construction :S

المستقبل - الاربعاء 9 تموز 2008 - العدد 3012 - بزنس - صفحة 11



أعلن رئيس مجلس ادارة شركة "الكويتية القابضة" ثائر الثائر أن الشركة قررت معاودة اطلاق مشروع تطوير القرية الفينيقية في وسط بيروت، الذي يعتبر من اكبر المشاريع العقارية في العاصمة اللبنانية.
وأبلغ الثائر قرار شركته الى رئيس الجمهورية ميشال سليمان عندما التقاه امس الثلاثاء مع وفد من الشركة.
وقال إن المشروع يغطي مساحة 250 ألف متر مربع مبني وتبلغ كلفته ملياري دولار أميركي.
وأشار إلى أن المشروع عبارة عن قرية نموذجية فيها برجان سكنيان وفندقان ومركز تجاري ومطاعم وصالات سينما وموقف يتسع لأكثر من 4 آلاف سيارة.
وسيتم وضع الحجر الاساس له قبل نهاية السنة الجارية بحيث يكون معلما سياحيا وتجاريا يطل على ساحة الشهداء وعلى البحر، وستنفذه شركات لبنانية بإشراف مهندسين دوليين.

Based on that article it seems like a bigger project then proposed..more expensive and now two hotels?

Thats weird i posted this and not showing:

I checked it out b4 it was described as 206,000 sqm now it is 250000 sqm ...It also went from $1.1 or $1.3 billion to now $2- Billion. This is no longer on hold the corner stone will be laid b4 the end of the year

^^ I hope they go higher than 160 ...... and why r they waiting till the end of the year?

Well within 6 months it could be in 3 ...not a long time lol Plus we dont know what happened to the initial investment ...maybe they need to secure it again from there investors. They also have to mobilize the construction equipment etc etc...this is not a small project lol I want to see the final renders

I think once Landmark and Beirut Gate are built it wont seem so massive...At that time you will have all the corners (or gates)of the BCD occupied by towers. You also have the Murr tower and new land construction..I am just concerned about feeling "surrounded"...but this building was designed for sea views etc...hopefully they are designing them to alleviate this..

It's a matter of taste, or opinion, but I've always thought that the idea of having the corners of the BCD marked by towers strange from a social standpoint, and unattractive from an urban design one.

The message of having gateway towers almost seems to be saying, 'this area is separate from the rest of Beirut.' While we know that is true during the reconstruction phase, the legacy should be a longer one, so that when the reconstruction period is over, the center is integrated into the rest of the city, not marked off.

In terms of design, I've felt that the towers jutting out here and there will make the area look gap-toothed. Aside from that, having massive towers overlooking the Serail and Maarad (as the Landmark thing will do, as well as the other to be built by the Evangelical church) diminishes them. This is the one place where commercial interests have not, yet, prevailed. I think it should be kept that way (Washington doesn't, for example, allow any towers in all of the DC area, thus the buildings that stand out in the city are public monuments, not commercial ones).

This one, at the end of the Martyr's Square axis, is way too big in my view, and has gotten bigger as development land has been set aside for other uses (the R. Hariri gravesite, the little traingular park near the Serail, etc.). We can still have towers. We could have the landfill extended and have the new area zoned for the tallest of buildings (though woe to Ashrafiyeh's afternoon sunlight in that case!) but it just seems that Maarad, the Serail, and Martyr's Square should not be compromised...

^^ very good points, but we have to be realistic here. Development planning in Lebanon is not ideal, of course, because of how everything has evolved over time. If you remember, the plot of the Landmark was initially not designated for a highrise but was later changed... we have to take into consideration the economic situation and how these mega-projects will create jobs, etc. (and also make more money for Solidere). These commercial projects are just what Beirut needs (since most other projects are residential) and will lure in more tourists and boost the economy. So, I dont think we are compromising any of the public squares or buildings but rather re-focusing attention and importance to these areas and giving the city center a truly modern urban touch that will provide a nice contrast with the traditional.

...compromise is necessary. The question is one of where to draw the line. And if you can extend the area in which you have to draw the line, maybe the debate can be shifted, just like the buildings. I'd have been for giving Solidere the right to develop an extra parcel of landfill (as John has suggested), with no height restrictions (so we could join the rush to build the tallest - at least until the next project - building), and keeping the view of the Serail from the Ring, of the Evangelical church, and of the Martyrs Square axis, free and clear. It would be a sort of pressure valve, that would make the decision to keep archaeological findings (like the Hippodrome in Wadi Bou Jamil) or previous massing decisions much easier while keeping the valid economic and financial considerations alive.

We won't have many 'chances' o rebuild the center like this one, ever again (we can hope, at least).

Levant Holding Major Shareholders

Name Country Holding
Al Dhow Investment Kuwait 50%
Tharwat Real Estate Kuwait 10%
Investors Diverse 40%

Kuwaiti Levant Holding to Revive $2B Beirut Project

Kuwaiti based Levant holding will re-launch its $2B real estate project, the Phoenician village, in Beirut’s Central District. The project will cover an area of 250,000sqm consisting of two residential towers, two hotels, a commercial center, restaurants and a parking lot that can accommodate 4,000 cars. The project will be developed by a consortium of Lebanese and foreign engineering firms.

More info from their website:

http://i35.photobucket.com/albums/d184/rhmud/72.jpg

This block is surrounded:

•To the north by the docks of Beirut’s harbor’s basin 1;
• And to the south by rue de Trieste;
• Its western bounds might end up being a water basin depending on the outcome of Martyrs Square’s urban planning project.




To the South is the largest block, it has an irregular shape, a BUA of 180,000 sq. m. and is surrounded by various important, busy and prestigious road axes:
• To the North, a frontage of approximately 103 meters onto rue de Trieste which is BCD’s main coastal road access.
• To the South a frontage of approximately 120 meters rue Cadmus; that links Solidere’s Maarad area with the up and coming Gemmayzeh neighborhood.
• To the East rue Georges Haddad a frontage of approximately 120 meters which is forecasted to soon become an even more important artery that will link Damascus road to the heart of downtown in a record time (fast link).
• To the West, Bechara el Khoury Avenue: a frontage of approximately 170 meters, this section, part of the Martyrs’ Square corridor is set to become Beirut’s future Champs Elysées.....

This block’s preliminary design consists of four high rise buildings: T1, T2, T3, T4 with heights varying from 90 to 160 meters. This block will probably bear the highest skyscraper in Solidere and probably in Lebanon. This block will also mark BCD’s northeast entrance.

• Located on downtown’s boundaries and main Eastern entrance, it will constitute one of its gates.
• The smallest block is directly located on the sea shore.
• At 205.000 of BUA it is one of the largest blocks in Downtown in terms of size.
• It is surrounded by three two-way streets that are also very important road axes.
• Large open views because of the wide surrounding avenues.
• Excellent visibility all around.
• Located on Martyr Square corridor that should become one of the most expensive avenues in Beirut.
• Facing a landmark building (Annahar) and the future Ministry of Foreign Affairs.
• Exceptional allowed construction heights that will surely give a unique identity to the block, and will allow it to dominate the rest of downtown.
• Beautiful sea views.

Koetter Kim and Associates, a leading international urban planning firm has been retained by the project’s sponsors to prepare a general strategy for the development of Block#118 at the northern end of the Martyrs’ Square corridor.

The space allocation between the two plots will be as follows:
• Small plot:
Residential units with ground floor retail benefiting from both sea side view for the residential units and sea shore proximity for the retail (probably restaurants giving onto the harbor’s terminal) which will undoubtedly give it tremendous appeal as a leisure destination.

• Large plot:
•Building T1: Residential+ Retail;
•Building T2: Residential+ Retail;
•Building T3: Offices + Retail;
•Building T4: Residential and hotel + Retail.
(the residential component could eventually be turned into a serviced apartments entity should market conditions allow).

T1and T2 will almost certainly be perceived as among the most prestigious residential addresses of Beirut.



http://www.phoenicianvillage.com/images/p75_sqm.gif




These four buildings shall be organized around a central pedestrian square. We see this new urban square becoming one of the main pedestrian attractions in the Martyrs’ Square area. This and the fact that it will be a major gate to access the harbour’s quays will probably generate very high flow and accordingly very high retail potential.

This map is verrrryy helpful!
I think this is going to look so glorious when it comes true!

^^Yes

I guess it's going to include a Mall,i just wished if they mentioned more info about that.Also the Hotel.

Phoenician Village
The project is being developed
by the Kuwaiti Al Sayer Group
and Al Dhow Investment
Company on two sites, facing
Martyrs’ Square on one side
and the Port first basin on the
other, and totaling 20,311 sq m
of land area.
Phoenician Village will offer
205,735 sq m of floor area
consisting of two residential
towers, two hotels, commercial
center and restaurants, with
parking facilities.

The website doesn't appear to be working anymore. Anyone have any updates?

I'm particularly curious about the cruiseship terminal that is planned to be built right next to it on the 1st basin.

^^ The website hasn't been working for a while now, ever since they announced the project was on hold.

It was actually working with me 2 weeks ago when I did the most recent updates in the Development site

Yes i was on there a couple weeks ago also...I don't think its on hold..i guess we have to wait for the solidere annual report

I'm particularly curious about the cruiseship terminal that is planned to be built right next to it on the 1st basin.

Seriously?!? thats amazing! but isn't there a Lebanese naval base there?

The cruise terminal is located in the first basin..but i do not think it is a part of this project...the naval base can still exsist or move a little

Yes, the naval base will be moved.

There is presently a temporary passenger processing facility in the first basin to handle passengers.

Up until last year, Cyprus-based Louis Cruise Lines operated 2-day Limassol-Beirut-Latakia-Limassol cruises. Unfortunately they won't be operating it this year.

Also, the very high end cruiseliner company, Silversea, had cruises that stopped in Beirut several times during summer 2005 and at least part of summer 2006 before the war broke out.

It doesn't look like there will be any cruises to Lebanon this year, at least not as far as I know.

The website is up and running with plenty of renders, but no new news about the project. Maybe the start of Beirut gate construction, will jumpstart this project.

^^ I hope it will. This will be such a great project. It would bring so much attention to the city.

Latest Annual report described this project as still active. "The largest project to date"

Here you go Rami,

Any update on this project?

Here you go Rami,

Any update on this project?

hey 10x man i appreciate it !
it seems this project has been put on hold

^^According to who?

Their website is still up and running.