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- Destination set to become the beating heart of the Levant with Majid Al Futtaim’s world-class integrated residential, commercial, retail, leisure and entertainment offerings
- More than 600 families expected to move in by mid-2018
Beirut - Lebanon: Waterfront City, Lebanon’s first contemporary mixed-use development, today celebrated the handover of its 100 homes. Strategically located on the country’s coastline, the city is set to become the beating heart of the Levant with Majid Al Futtaim’s world-class integrated residential, commercial, retail, leisure and entertainment offerings. Waterfront City welcomed the hundredth family to their new home with an intimate celebration at the Customer Sales Centre and the community move-in pack, designed to celebrate this great moment.
A joint venture between Majid Al Futtaim - Properties and Joseph G. Khoury et Fils Holding, the destination is aimed to provide a pioneering lifestyle for the modern-day individual – conscious green living with its outdoor urban spaces and 16,000sqm of public parks. The community will be also offering an impressive range of food, leisure and retail outlets overlooking the marina to create an authentic and vibrant customer experience. Waterfront City will see the addition of 30,000 square metres of urban retail offerings anchoring luxury brands, high-end convenience and grocery, in addition to gourmet stores by end of 2018. Waterfront City is also expecting more than 600 families to move in by mid-2018 and more than 50% of the business district to be fully operative by corporate organisations and entrepreneurs.
John Ward, Waterfront City - Project Head at Majid Al Futtaim – Communities, commented: “The handover of the 100 homes is testament to our steadfast commitment to continue creating great moments for our residents and driving socio-economic development in Lebanon. Waterfront City is becoming one of the most sought-after communities in the country and we look forward to welcoming more families to their homes, in the city they deserve.”
The residential component of the city will comprise 2,000 exceptional waterfront, marina, and park-view homes with easy pedestrian access to the rest of the neighborhoods. As for the Business Park, it is aimed to be one of the Levant’s most equipped business hubs, providing corporate groups and
individuals with a cutting-edge platform that encourages workplace networking and knowledge exchange.
Ever since its conception, Waterfront City has been committed to providing a sustainable way of life with an all-new ‘Go Green’ policy, making it a game-changer in the saturated real estate market. Its interdependent nature allows all districts to draw strengths from each other, laying the foundations for a balanced, healthy, and forward-thinking environment. With the rise of Waterfront City, tenants are getting ready to experience a shift in lifestyle - one that celebrates life, champions ambition, and creates a fleet of long-lasting happy memories.
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About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.
A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 15 international markets, employing more than 35,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.
Majid Al Futtaim owns and operates 21 shopping malls, 12 hotels and three mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in 38 markets across Middle East, Africa and Asia, and operates a portfolio of more than 175 outlets in 15 countries.
Majid Al Futtaim operates 284 VOX Cinema screens and 30 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai and Ski Egypt, among others. The Company is parent to the consumer finance company 'Najm', a fashion retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, and Crate & Barrel; and a healthcare business that operates City Centre Clinics. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf.
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About Waterfront City
Since its launch, Waterfront City master-planned community has evolved. This destination, located on the 700-berth La Marina Joseph Khoury will come to life and host its first residents in 2016, blending maritime lifestyle and vibrant neighbourhood environments with leisure, hospitality, business and retail components to deliver an unparalleled living experience.
With over twice the land size as that of the marina in Monte Carlo Monaco, residents and visitors will have the opportunity to access 2,000 intelligently designed living spaces of varying sizes, accompanied by a mix of world class shopping, numerous dining options and unique entertainment offerings. Health clubs and green parks further add to the community experience. A state-of-the-art business park, with efficient designs and ample car parking, along with leading international hotels will round out the perfect setting in this prime location.
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About Joseph G. Khoury
Joseph G. Khoury, the founder of Société Joseph Khoury & Fils Holding SAL has been a long-time market leader and pioneer. Since first creating the Société Nationale d’Entreprises in 1960, Joseph G. Khoury was embarking on the long fruitful road of a master-builder with a passion for perfection and work well-done.
Under his directorship, the Société Nationale d’Entreprises has executed a multitude of projects in Lebanon and the Arab World in many diversified fields. This work was crowned by the project Reclamation and Development of the “Littoral Nord”, consisting of approximately 2,600 linear meters
of coast line and a total area of 1,003,000 square meters. Visionary and always looking for a competitive edge, Joseph G. Khoury founded many companies and after he passed away the Société Joseph G. Khoury & Fils Holding SAL has taken over his mission and continues the journey the way he intended it.
© Press Release 2017
