As part of its commitment to deliver its projects on stipulated deadline
Damascus - Bena Properties the real estate development and investment arm of Cham Holding announced today that the excavation works at its flagship destination Taj Halab, the mixed use development in Aleppo, have already started this month.
Commenting on this initiative, Mr. Hawazen Esber, CEO of Bena Properties, said: "Taj Halab is the first and one of the largest mixed use projects ever built in Syria. The vision of Taj Halab is already taking shape by initiating the first step in creating this flagship development which reflects our commitment to execute best in class projects."
"Developing Taj Halab aims to cater in the first place to the needs of the Aleppian community in addition to the tourist market. The mixed-use complex will offer distinctive hotel accommodations from different types, while featuring a vibrant retail and a family-oriented entertainment district, dedicated to host a wide range of cultural, retail, and outdoor activities."Esber added.
The excavation works executed on a total area of 85,800 square meters area, are expected to last for about 6 months.
In addition to the restoration and adaptive reuse of seven historical buildings dating back to 1920, where three of them will be transformed into a 5-star boutique hotel with 36 Keys, Taj Halab will also be a home to the 3-star ibis hotel containing 129 keys and 4-star Novotel hotel with 150 keys, a shopping mall, boutique office, a family-oriented leisure and entertainment precinct, parks and gardens as well as a large open-air plaza for exhibitions and events.
Staged for completion in 2014, Taj Halab is one of the major mixed use urban centers to be built in Syria by Bena Properties which possesses a substantial land bank in the major Syrian cities, including Damascus, Lattakia, Aleppo and Tartous.
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About Cham Holding
With a start-up capital of $380 million, Cham Holding was launched in 2007 by the collaboration of 70 top Syrian investors, with an investment strategy that revolves around creating opportunities for both of the Syrian public and economy. Cham Holding aims to achieve its investment strategy through a series of projects in Property Investment and Development, Tourism and Hospitality, Finance and Banking, Transportation, Healthcare, Education, Manufacturing and Energy.
www.chamholding.sy
Bena Properties Boiler Plate
Bena Properties is the real estate development and investment arm of Cham Holding.
Bena Properties is the largest Syrian private real estate company with a diverse portfolio that consists of a range of hotels and resorts, master-planned communities, and mixed-use centers.
With determination to play a leading role in boosting the local economy, Bena Properties is playing a major part in developing the Syrian hospitality sector; by 2013, Bena Properties' hospitality portfolio will be the Levant's largest, with more than 1,400 keys and 26 F&B outlets currently under development.
Bena Properties is already active in the four major Syrian cities - Damascus, Aleppo, Lattakia and Tartous - and is currently developing several projects in prime locations totaling more than 3 million square meters.
Bena Properties aims at becoming the preferred partner for regional and international investors. Its mission is to trigger the Syrian economy and its vision is to build communities.
For more information about Bena Properties and its projects please visit our website: www.benaproperties.com
© Press Release 2010
