• Home
• Real Estate
• News Article

VERTICA real estate launched in Beirut to attract foreign direct investment to the Lebanese real estate scene

The company's services aim to contribute to local economy

Beirut, Lebanon: VERTICA for real estate services was launched in Beirut, Lebanon focusing initially on the Lebanese market with the expectations that Lebanon's economy will grow by up to 8 per cent this year owing to high capital inflows, according to central bank governor Riad Salameh.

This launch comes during a period where Lebanon proved to be the most resilient to the global crisis in the MENA region. The performance of the Lebanese economy was strongly praised lately by the world's top reference institutions, for having remained shielded from the global financial crisis spillovers and it is expected that Lebanon's economy will grow by up to 8 per cent this year owing to high capital inflows, according to Riad Salameh.

While announcing the launch of the company, Mohamad Sinno, Managing Director of VERTICA said: "The launch of VERTICA demonstrates our confidence in the future of the Lebanese economy. VERTICA will offer local, regional and international investors the opportunity to invest in Lebanon. As much as we focus on the Lebanese market we are planning to expand our services at a later stage to cover the Syrian and Iraqi markets".

According to an report issued by Bank Audi, one of Lebanon's most prominent banks, Lebanese Real Estate market is about USD 10 Billions and expected 10% growth for 2010. All Major real sector indicators registered positive growth in the first nine months of 2009. Among the latter, we mention the growth of construction permits (+8.9), cement deliveries (+17.8%), merchandise at the port (+8.1%), passengers at the airport (+26.3%) and de-taxed purchases (+15%). (Bank Audi Economic Report)

VERTICA will be divided into 2 specialized sections. VERTICA Properties specialized in all kind of brokerage, sales and marketing services and VERTICA Development, that will develop its own real estate projects.

The MD of VERTICA added: "The performance of the Lebanese economy was strongly praised lately by the world's top reference institutions, for having remained shielded from the global financial crisis and therefore we do hope that VERTICA will contribute positively to the Lebanese real estate sector, by attracting the foreign direct investments, and by focusing on transparency, credibility and professionalism in dealing with investors."

-Ends-

About VERTICA:
VERTICA Properties offers a selection of residential and commercial property for sale and lease in Lebanon. Established recently in Lebanon, VERTICA Properties is aiming to be one of the most reputed and professional real estate services company in Lebanon. VERTICA Properties is backed by a team of specialized consultants who are ready to provide its investors / clients with the highest quality and professional service.

VERTICA Properties Services: Investment Opportunities (High Transactions); Residential Sales and Leasing; Commercial Sales and Leasing; Property Management; Project Sales and Marketing

VERTICA Development Services: Feasibility Study; Market Analysis; Full Due Diligence; Design; Construction ; Sales and Marketing; Private Development (Villa, Private building);

VERTICA provides as well tailor made services such:

- Land Acquisition

- Design

- Permits

- Construction

- Interior Design & Furniture

- Property Management

For further information
Please contact VERTICA Development
Phone: +961 1 818 325 / 6 / 7
Email: info@vertica-me.com
Website: www.vertica-me.com

Bassem el Zein- Executive Director
I Witness PR
Tel: 0097143435750
fax: 0097143435701
Email: bassem@iwitness-me.com
www.iwitness-me.com

© Press Release 2010