13 of the Latest Big Real Estate Projects in LebanonEhsan Bayat

13 of the Latest Big Real Estate Projects in Lebanon Recent activity in the Lebanese real estate market has yielded a variety of

outcomes for all parties involved in the industry, from developers to the banks. Travel and tourism numbers have declined across the country, and this fact alone has shaped the overall economy, resulting in a depletion of capital and a drop in real estate demand and housing prices. However, property developers have continued to generate comparatively high returns on their projects, including residential developments.

RAMCO executive Raja Makarem has observed that Lebanon benefits from a set of fundamental characteristics that allow the real estate sector to move forward despite economic adversity. One such element is the variety of building opportunities, which many companies have leveraged to their advantage by expanding their portfolios outside of Beirut. Whether located in the capital city or in its environs, here is a look at some of the latest real estate projects in Lebanon.

1. The Pinwheel

In the Beirut Central District, the real estate development company Solidere has launched several projects, including the Pinwheel, which will feature three mixed-use towers and accompanying podiums. These structures will house retail space, a hotel, and numerous serviced residential units.

2. Grand Theatre Hotel

The team at Solidere is also pursuing a large-scale renovation of the Grand Theatre Hotel, formerly known as Le Grand Théâtre des Mille et Une Nuits. Upon completion, this venue will operate as a boutique hotel and theater.

3. J Towers

Plus Properties has launched construction on the J Towers development in the Ashrafieh district of Beirut. The residential project, situated near downtown, will offer apartments starting at 145 square meters, and buyers will benefit from several indoor amenities, such as a gymnasium and swimming pool.

4. Mondrian

A new residential tower developed by the Qualco Group, the Mondrian overlooks downtown Beirut and features nearly 30 living spaces, including two penthouses. Residents of this first-class tower will enjoy the proximity of high-quality shopping and commercial selections.

5. BeitMisk

Located just outside Beirut in the northern Matn region, the BeitMisk residential community represents a big investment for client Highland s.a.l. The second phase, which comprises the Acacia buildings 1 to 6, spans 655,000 square meters of real estate. Among other properties, BeitMisk will offer villas, penthouses, and apartment buildings complemented by several gardens and recreational facilities.

6. Magic Planet

Developed in the City Centre Beirut, Magic Planet is a family entertainment venue, the first of its kind in Lebanon. Majid Al Futtaim Ventures commissioned the project, which will feature more than 180 shopping and gaming vendors within the Hazmeih mall.

7. Natour

On a section of the northern Lebanese coastline, the Natour development encompasses roughly 81 hectares of land. The project outline includes residential properties, such as apartments and villas, and structures for hospitality, including a five-star hotel and various entertainment and dining options. The Malia Group oversees the construction of this development.

8. Cloudreach

Cloudreach is a residential development by Cabbabeh Real Estate (CRE) currently under construction in Rabweh. Located outside of Beirut, this new real estate community offers the comforts of a rural setting coupled with the latest in building techniques and home technologies, such as pre-installed videophones. The property features underground parking with three spaces for each apartment.

9. Hills Zekrit 178

Another residential project in the CRE portfolio, the three blocks of apartments that constitute Hills Zekrit 178 are under construction in the hill country of Zekrit, located northeast of Beirut. The architecture of this development will also have underground parking for its residents, and the finished product will offer a competitive view of the Mediterranean Sea.

10. Cabbabeh 266

Still in the permit phase, the Cabbabeh 266 commercial center will rank as the largest of its kind developed by CRE. The business complex will comprise 31 offices and clinics, and it will also feature dual showrooms. Polished landscaping will surround the property, and a four-floor parking structure will complement the main commercial building.

11. Venus Towers

Built in the Beirut Central District, the Venus Towers comprise three high-rise structures that house residential and commercial units. The project represents a $500 million investment by Venus Real Estate Development Company. Venus Towers overlook the local marina and offer a view of the Sannine Mountains.

12. Majestic Tower

A member of the RAMCO portfolio, the Majestic Tower stands at 22 stories and features high-standard residential real estate. The tower, built for Ammache Group and Jaroudi Management Group, is situated in Beirut, facing the Mediterranean Sea. Beneath the structure resides three floors for parking and other services.

13. Ras Beirut

Ras Beirut comprises two residential towers, each with 13 floors of apartment units. The two towers function as a single community, with 52 190-square-meter apartment rooms, each of which comes with a designated parking space and additional room for visitors.