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Dynamic vertical village, Beirut Terraces, unveiled yesterday

Beirut, July 16, 2010 - Beirut Terraces, an urban residential development situated in the heart of the Lebanese capital, was unveiled yesterday, in a ceremony which celebrated the commencement of the project's construction. Benchmark, the pioneering development firm behind Beirut Terraces, has commissioned and assembled a distinctive team of firms, to contribute to the making of the dynamic vertical village. Leading the design of the project are world-renowned architects Herzog & de Meuron who have a rich portfolio of projects such as the Beijing National Stadium and the Tate Modern museum in London.

Beirut Terraces, located in the prestigious Beirut Central District, is expected to raise the bar in architecture and design, both on the national and regional level. It is in fact the first residential development by Herzog & de Meuron in the region, founded on the concept of reviving the Beirut urban lifestyle by extending the village living experience from horizontal to vertical, blending the indoor and outdoor, views and privacy, landscape with architecture.

Speaking of their first residential project in the Middle East, the architects said: "Beirut's moderate climate is certainly one of the city's biggest assets, making outdoor life not only an additional, but an integral part of its urban life. Each of our projects is unique and defined by its immediate cultural and climatic conditions; we take it upon ourselves as architects to take maximum advantage of these inherent potentials and bring them forward through the design. The consequence of air conditioning has meant that the inherent climatic conditions have been forgotten in architecture since its introduction in the sixties, whereas the assets of climatic conditions especially in the case of Beirut, lead to a more natural and less technically dependent way of living. We are seizing this potential and creating apartments that enable a flexible living between inside and outside."

The Herzog & de Meuron design of Beirut Terraces was highly inspired by the urban history of Lebanon, where the richness of the layers of civilization that have swept through the nation have been reflected in the multi-layered approach that has been adopted for the tower.

The residential tower will offer its tenants the chance to celebrate the waterfront and the breathtaking views of the city through the majestic floor to ceiling glass façades leading to the spacious terraces, privately designed for each apartment.

The tower will have four separate entrances, unified through a central core, leading the residents to their apartments in utmost privacy. The tall structure, reflecting the spirit of future Beirut while drawing inspiration from the city's layers of history, will have 130 different apartments, each offering a differentiated living experience.

Benchmark, Beirut Terraces' developer who is behind other distinguished projects such as Wadi Hills Residences, further reinforces its pioneering spirit with this new concept.

Bassim Halaby, Chairman and CEO of Benchmark was keen to elaborate on the inspiration behind the Beirut Terraces project, saying that, "Beirut is a wonderful place to be. A city that celebrates life around the clock, a capital built on layers of history, and most importantly a city center which has reinvented itself without losing its identity. Beirut downtown residents on the other hand are increasingly becoming global business figures with a local address. Our aim for the Beirut Terraces project is to become a crafted jewel in its outstanding urban context and a landmark in the re-born city center of Beirut, and to provide for its residents a quality of life worthy of their expectations. We also view ourselves as equally accountable towards protecting the environment and we are therefore committed to creating a sustainable development."

Beirut Terraces, in essence, will contribute to Beirut's future with a unique design and a responsible timeless project and will hopefully be one of many successful sustainable developments in Lebanon.

-Ends-

About Benchmark
Benchmark is a real estate investment, development and management firm with its headquarters in Beirut, Lebanon. Driven by a unique team of professionals who possess years of international experience and global relationships in the design, consulting and investment communities, the firm is emerging as a regional player. Through its innovative approach to creating and delivering value, the company is aiming to set a "benchmark" for responsible and forward-looking real estate practices.

For more information, please contact:
Hana Osseiran
Impact Porter Novelli
Tel: +961 1 337 666
Email: h.osseiran@ipnbeirut.com.lb

© Press Release 2010