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Damac Properties tops off tower in Beirut
Damac Properties, one of the largest luxury developers in the Middle East, has announced that its iconic Damac Tower in the prime area of Solidere, 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 is an innovative collaboration between Damac Properties and Versace Home, which will deliver an entire Versace lifestyle to discerning residents through a high-end building with bespoke Versace 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 Beriut and it is great to see that recognized in the international markets,” said Ziad El Chaar, managing director of 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.”
— business@khaleejtimes.com
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