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BELLA CASA​



Courtesy of Le Commerce Du Levant:
La société immobilière MENA Capital a lancé en grande pompe fin mai 2012 son nouveau projet immobilier : Bella Casa.
Situé dans le secteur Adlié (entre l’immeuble de la TVA et la zone ferroviaire de la Corniche el-Nahr) sur une parcelle d’environ 8 000 m2, Bella Casa se compose de trois tours résidentielles de 22 à 28 étages.
« L’acquisition de cette parcelle remonte à l’été 2011. Nous étions à la recherche d’une vaste parcelle dans la première couronne de Beyrouth. Finalement, ce site est idéal. Il est facile d’accès et le secteur est calme. Il s’agit d’un îlot avec trois façades qui fait toujours partie d’Achrafié, d’où notre slogan : “Escape the city… inside the city” », explique Nabil Sawabini, fondeur et PDG de MENA Capital.
La multiplication des projets dans le secteur Adlié-Corniche el-Nahr confirme le boom immobilier de cette partie de la ville. L’avenue Pierre Gemayel, qui s’étire du musée national à Fiat, s’affirme comme une adresse d’affaires avec plusieurs immeubles de bureaux comme The Pearl. En revanche, à l’intérieur, les immeubles sont uniquement résidentiels comme Le Cyprès, Trillium Beirut et Factory Lofts. Véritable réserve foncière, les promoteurs y disposent de nombreuses parcelles à bâtir. Une nouvelle ville est en train de se créer. « La région a de l’avenir », confirme brièvement Nabil Sawabini.
Dessiné par le cabinet R&K (Rachid Karam), Bella Casa est un complexe résidentiel qui totalise 182 appartements d’une, deux ou trois chambres à coucher avec des simplex de 120 à 264 m2, des lofts avec un jardin privé et des penthouses de 184 à 389 m2. Les travaux d’excavation doivent commencer en juin 2011. Les promoteurs tablent sur une livraison au cours de l’été 2015.
Comme ses concurrents (Ashrafieh 4748 et Trillium Beirut) déjà sur le marché et également situés dans la zone Adlié-Corniche el-Nahr, Bella Casa dispose des services classiques d’une résidence fermée : 5 000 m2 d’espaces verts, deux piscines, une aire de jeux, une salle de gym et une piste de jogging.
Après les projets haut de gamme comme I. Sursock Residences, Hochar Tower, Koreytem Gardens et Skygate, MENA Capital cible une nouvelle clientèle avec Bella Casa. « Nos précédents projets correspondent à une niche spécifique. Désormais, le marché est différent. Depuis quatre-cinq ans, la hausse des prix bloque l’accès pour les locaux et les expatriés à la propriété à Beyrouth. Pour cette raison, nous nous sommes orientés vers de petites surfaces plus adaptées aux budgets des clients. Notre cible est de proposer des appartements de 400 000 à un million de dollars », précise Nabil Sawabini.
Après une importante campagne publicitaire, la commercialisation des appartements a démarré avec une réduction de 15 % sur une trentaine d’unités, ce qui donne une gamme de prix de 2 800 à 4 000 dollars le m2. Les prix augmentent de 50 dollars le m2 par étage. « Suite à notre campagne dans la presse locale début mai, nous avons été sollicités par des clients curieux d’avoir plus de détails sur notre grille de prix et de connaître l’emplacement du projet », dit Nabil Sawabini. Avec 35 000 m2 de surfaces résidentielles (y compris les terrasses et les jardins privés), le projet devrait totaliser environ 120 millions de dollars de vente. Bank Audi s’est associée avec MENA Capital pour faciliter l’obtention de prêts immobiliers.
Depuis fin 2011 et le printemps 2012, MENA Capital vient de terminer trois immeubles à Beyrouth : Koreytem Gardens à Ras Beyrouth, Hochar Tower à Jal el-Bahr et I. Sursock Residences à Sursock. Toujours en cours de construction, le projet Skygate – rue George Haimari à Sassine – sera livré dans deux ans. Environ 60 % des appartements ont déjà été vendus. La grille des prix commence à 6 000 dollars le m2, soit presque autant qu’au centre-ville de Beyrouth.

Translation by Google Translate:
Courtesy of Le Commerce Du Levant:
The real estate company MENA Capital launched with great fanfare late May 2012 the new project: Bella Casa.
Located in the Adlié (between the building of the VAT and the rail of the Corniche el-Nahr) on a plot of approximately 8000 m2, Bella Casa consists of three residential towers of 22 to 28 floors.
"The acquisition of this parcel was in the summer of 2011. We were in search of a large tract in the inner suburbs of Beirut. Finally, this site is ideal. It is easily accessible and the area is quiet. This is an island with three sides which is always part of Ashrafieh, hence our slogan: "Escape the city ... inside the city", "said Nabil Sawabini, founder and CEO of MENA Capital.
The proliferation of projects in the Adlié Corniche el-Nahr-confirms the real estate boom in this part of town. The avenue Pierre Gemayel, which stretches from the National Museum of Fiat, is emerging as a business address with several office buildings such as The Pearl. However, inside the buildings are residential only as The Cypress, Beirut and Trillium Factory Lofts. True reserve, developers will have many building plots. A new city is being created. "The region has a future," says Nabil Sawabini briefly.
Designed by the firm R & K (Rachid Karam), Bella Casa is a residential complex that totals 182 apartments of one, two or three bedrooms with Simplex 120 to 264 m2, lofts with private gardens and penthouses of 184 to 389 m2. Excavation work to begin in June 2011. The promoters expect a delivery during the summer of 2015.
Like its competitors (Ashrafieh Beirut and Trillium 4748) already on the market and also within the area Adlié-Corniche el-Nahr, Casa Bella offers traditional services of a gated: 5000 m2 of green space, two pools, a playground, a gym and a jogging track.
After the high-end projects such as I. Sursock Residences, Hochar Tower Gardens and Koreytem Skygate, MENA Capital target new customers with Bella Casa. "Our previous projects correspond to a specific niche. Now the market is different. From four to five years, rising prices blocks access for locals and expats to own property in Beirut. For this reason, we turned to small areas more suitable for customers' budgets. Our target is to offer apartments from 400 000 to one million dollars, "says Nabil Sawabini.
After a major advertising campaign, marketing the apartments started with a 15% reduction of thirty units, giving a price range of 2 800 $ 4 000 m2. Prices increase $ 50 per m2 per floor. "Following our campaign in the local press in early May, we were approached by customers anxious to have more details on our price and the location of the project," said Nabil Sawabini. With 35,000 m2 of residential space (including terraces and private gardens), the project is expected to total approximately $ 120 million sales. Bank Audi has partnered with MENA Capital to assist in obtaining loans.
Since late 2011 and spring 2012, MENA Capital has completed three buildings in Beirut: Koreytem Gardens in Ras Beirut, Hochar Tower in Jal el-Bahr and I. Sursock Residences at Sursock. Still under construction, the project Skygate - George Street Haimari to Sassine - will be delivered in two years. About 60% of apartments have been sold. Our rates start at $ 6 000 m2, nearly as much as downtown Beirut.


Source:
http://www.lecommercedulevant.com/affaires/immobilier/nouveaux-projets-liban/bella-casa/20670
 

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Bella Casa: Gated Communities on the Rise

21.09.2012 16:36



MENA Capital has recently launched its new gated community “BelleCasa”. The project consists of three elegant towers surrounded by over 5,000 sqm of landscaped areas and ample amenities in the quiet and highly accessible Adlieh neighborhood of Ashrafieh. It combines urban reach to serene yet modern living requirements and meets the desires of executives and professionals. EKARUNA interviewed Mr. Nabil Sawabini, CEO & Chairman of MENA Capital who provided an in-depth view on the different aspects of this new project as well as on the future plans of MENA Capital.

Why did you choose Adlieh to develop Bella Casa?

Majority of our projects are located in more prominent areas. These projects target a more different high end audience. Current prices are limiting home buyers ability, whether locals or expats, to afford such medium to large luxury residential units. As a result, we currently shifted our focus towards small to medium units while maintaining high quality construction and eye catching design.

Ideal locations for such developments fall either outside or on the peripheries of the city. Adlieh is one of the areas that seemed still underdeveloped, green, and very highly accessible. We were fortunate to find this prime land that covers an area of 10,400 square meters at a time were prices were still relatively low. To cater to the new demand of the market, Bella Casa is attracting a wide number of mainly executives and professionals with a competitive price per square meter starting at less than $3,000.

Does the zoning there allow you to build such towers?

Normally, zoning allows reaching up to such exceptional heights when the covered area exceeds 3,000 to 4,000 square meters. However, when the development exceeds a certain height (25 to 28 levels), the incremental construction costs escalate tremendously. Within the city, developing a traditional community is relatively not feasible. As such, the alternative is to go vertical. This is how we were inspired to develop three towers.

How can you know when is the right time to develop?

A developer with decent reputation, credibility, right product, and affordable price, will be a definite target in the market regardless of broad supply. We at MENA Capital know how to foresee the demand in the market. For our target clients, we rest assured that our projects will be on the top of their choice list. Most importantly, we aimednat offering a unique unmatched product.nThis product combines all high standards of construction, provides accessibility, safety, serenity, as well as greenery and proximity to facilities. In addition, indulging amenities were considered, such as running tracks, swimming pools, playgrounds, and parking spaces.

What emergency strategies do you prepare to face potential instabilities in Lebanon?

We don’t have an emergency strategy to apply on the local level. Our strategy is to grow and expand our reach on a regional level. Regional plans kicked off almost 2 years ago in Iraq. These plans were limited to buying and selling lands, no developments have been done yet. We currently own a fair sized land in the vicinity of Baghdad, and we aim at increasing it up to 3 million square meters. We are incentivized by the high demand in the Iraqi market, yet we await the suitable time to move forward with our investments there. Saudi Arabia is also a potential target market that we aim at penetrating.

What plans are put in place to develop the infrastructure for Bella Casa?

MENA Capital is already handling a major part of the infrastructure development. Plans to open the new roads in the area are in process. Upon completion of these plans, budget approval follows, and works are commenced. This takes between one year and a half and two years. By the time the project is delivered, all roads that provide access to the project would be in place.

Will the property be managed by MENA Capital after delivery?

We have established a company for this purpose, MENA Capital Property Management and Maintenance. This company will handle the property management for a period of five years. After that period, the occupants choose to either extend or change the property management company.

Being a financial company initially, what got you to real estate?

Upon my return from the United States of America I established the Middle East Capital Group with a focus on investment and banking. However, the fee business in the region is a very difficult proposition. Gradually, we shifted our business towards private equity. People in the region have a wider understanding of the real estate business, much more that private equity. With real estate being an attractive sector, we took the major step and entered the real estate business in between 2004 and 2005.

What are the current selling prices and are there future developments in the pipeline?

MENA Capital is temporarily offering 15% discount on apartments and 12% discount on lofts and penthouses. With the discounts, prices start at $2,800 per square meter. These offers are applicable on the first batch of apartments. Once sales reach up to 25 %, discounts will be reduced. In regards to future projects, we have several in the pipeline. We’ll keep it confidential at the moment.

http://www.ekaruna.com/menu/reports/report.html?id=68
 

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3/2016 Bella Casa at Corniche El Nahr is made up of three towers with a total of 182 residential units, with prices starting at US$ 2,800 per SQM. The project was on the market for about two years, although construction works were never started on the site. By early 2014, the project was finally taken off the market and the land stands empty to date.
 
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