Marina City: Touristic & Investment Project

          Marina City is considered as one of the most important projects in the real estate development in a prime location on the Great Beirut sea coastal front of Dbayeh region which was backfilled since 6 years ago it became known as Dbayeh Marina (Joseph Khoury Marina) which it can accommodate more than 700 yachts... from its outstanding characteristics as its strategic location close to Beirut Central District Commercial Center, to North Metn and Jounieh in addition to its connection to modern network of main roads leading to either the highway between Beirut and Jounieh or to the autostrade of northern Metn, also to the sea shore road, which lies at the door steps and parallel to the project.

          The project consists of 26 plots of land, which represent a Marina belt that can be used for multiple purposes. The project extends on an area of 81,000m2 whilst the built-up area is of 365,000m2.

          The project consists of:

-         Five star hotel of 270 rooms and suites.

-         A reception hall accommodating 1000 persons.

-         Seven residential towers ranging from 11 to 15 floors and house for more than 150 luxurious residential units specialized for “time share” services – 75 furnished apartments – a covered commercial center extending to 75,000m2, which will house the most important trade marks and international companies and prestigious restaurants – playground for children and recreation extending to one kilometer – 12 movies theaters – underground parking cars that can accommodate 3000 cars...

But the types of investment consist of two sections: The residential

Towers, the commercial market and rental apartments – the hotel and partial ownership.

The total investment required for the execution of the project is around

$326 million; $190 million to launch the construction activities; and $116 million will be open to write-up for the public, companies & individual investors via Lebanese Canadian Bank.

          The project is scheduled to start at the beginning of 2005 and to be completed by the end of 2007 and the yearly return on the investment is expected to be about 30% of the total investment.