Damac completes top residential tower in Beirut
Dubai, June 16, 2014
Luxury developer Damac Properties has announced its iconic Damac Tower in Beirut has been topped off, just days after the city was named the number one emerging city in the world for real estate investment.
The $300 million premium project in the prime area of Solidere is an innovative collaboration between Damac Properties and Versace Home, and will feature the latter’s home interior design packages throughout.
The key construction milestone was hit as research reported by CNN suggested Beirut was the most important ‘rising city worldwide, with the potential to show extra strong residential property price growth.’
The report, The Global Prime Sector and Beyond, commissioned by Candy & Candy, and produced by Savilles in partnership with Deutsche Asset Management, went on to say that ‘real estate in the city looks very cheap by international standards with considerable growth potential.’
“As a Lebanese national, I have always been a huge believer in the growth potential of the sector in Beirut and it is great to see that recognized in the international markets,” said Ziad El Chaar, managing director, Damac Properties.
“Damac Tower is right at the heart of Solidere – one of the most sought after and desirable locations in the city. Now that the project is topped off, we can get to work in earnest on the stunning Versace interior designs. We are at very exciting stage of the development.”
The facade work has already reached the fourth floor & the block work is at the 21st floor, while interior design work is currently ongoing in the first five floors.
The 28-storey Damac Tower was introduced as the first exclusive Versace Home branded residential tower in the region. Situated in the elite hotels and marina area in Solidere, Damac Tower has extensive views of the Mediterranean.
Damac Tower will feature spacious private units resplendent with custom designed interiors, by the famous Italian fashion house. All the common areas including the health and fitness facilities, the concierge reception and the main lobby will feature Versace HOME products.
El Chaar added: “Damac Tower promises to bring to Beirut a never-seen-before top-end designer lifestyle and appeal to a clientele who know what they like and why they like it. They are stylish, with a passion for the dazzling and eye-catching.” – TradeArabia News Service