The Second Phase of The Project include the long awaited Piazza and Boulevard Residences
Beirut, May 11, 2015: Waterfront City, the 250,000 m master-planned community located on the 700-berth La Marina Joseph Khoury, announced today the appointment of A. R. Hourie as a main contractor for the construction and delivery of the residential plots of "The Piazza and Boulevard" districts.
This marks an important milestone for the progress of Waterfront City project, endorsing the strong foundations of the project in all of its phases, and the continuous faith in Lebanon as a country resilient to all its challenges.
Contracts on behalf of both Waterfront City and A.R. Hourie were mutually signed to commence enabling works, on the anticipated "Piazza and Boulevard" Residences aiming to be delivered by 2018.
Already 80% of this second phase is sold to buyers who are mainly Lebanese, a majority of which are living in Lebanon and some abroad. These unique districts will comprise of eight buildings with approximately 282 units and they will be adjacent to the main restaurants and the marina area with its vast array of retail and leisure choices, offering tenants and visitors an unravelled contemporary lifestyle within these living environments.
Mr. Samer Bissat, Senior Development Director at Waterfront City Majid Al Futtaim Properties- Communities commented on this occasion: "We have diligently studied several proposals from contractors who were interested to partner with us in building Waterfront City. The appointment of A. R. Hourie as our contractor for the "Piazza and Boulevard" Residences is a well- earned partnership, with a clear understanding of our vision and needs, as well as their track record of quality delivery. A. R. Hourie has proved its merit on a number of projects across the country and we are confident they will meet and exceed our standards that have been set for this project, including the LEED, BREEAM and ARZ building standards."
Speaking on behalf of A. R. Hourie Enterprises, Mr. Ramzi Salman, CEO, stated: ''A. R. Hourie and Waterfront City share a belief in the positive development of Lebanon and have confidence in its resilience amidst the regional circumstances. We are committed to building the Piazza and Boulevard residences to the standard of excellence and aim to deliver with the high level of professionalism that A. R.Hourie has offered its clients for the past 50 years.''
The second Phase of the project will comprise of 6 buildings in total, with residences ranging in size from 75 to 200 m.
A competitive offering of 1 to 4 bedroom apartments will be developed in The Piazza with 105 units, with a large green patio that adds a feel of serenity and tranquillity.
As for the Boulevard, 177 units will range from1 to 3 bedroom apartments, offering contemporary living spaces, including courtyards with secure play areas for children.
Waterfront City Dbayeh is a mixed-use community project, located on the Mediterranean Sea, 15 kilometres from the capital, Beirut. The growing city offers quality residential, retail, hospitality and business opportunities designed to reinforce Lebanon's position as an economical hub and the regional beacon of progress.
-Ends-
The legal name of this company is "Majid Al Futtaim" and should not be shortened or replaced by an acronym to avoid confusion with another business entity.
Disclaimer: All facts and figures in this release are accurate at the time of issuance.
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About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA).
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 13 international markets, employing 27,000 people, and achieving the highest credit rating (BBB) among privately-held corporates in the Middle East.
Majid Al Futtaim owns and operates 17 shopping malls, 11 hotels and three mixed-use communities in MENA, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, City Centre malls, and also four community malls which are in joint venture with the Government of Sharjah. It holds exclusive rights to the Carrefour franchise in 38 markets across Middle East, Africa and Central Asia, operating a portfolio of over 60 hypermarkets and over 70 supermarkets in 13 countries.
Majid Al Futtaim operates 129 VOX Cinema screens and 17 Magic Planets across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai and iFly Dubai, among others. Majid Al Futtaim launched the first LEGO-certified store in the Middle East and is parent to the consumer finance company issuing 'Najm' credit cards, a fashion retail business representing international brands such as Abercrombie & Fitch, Juicy Couture and Halston Heritage, and a healthcare business. In addition, it also has a joint venture operation with Dalkia and has recently expanded into food and beverage in partnership with Gourmet Gulf.
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About Waterfront City
Waterfront City is a 250,000 square meters master-planned community located on the 700-berth La Marina Joseph Khoury. The project is a strategic partnership between Majid Al Futtaim Properties and Socit Joseph G.Khoury Et Fils., and is already under construction blending maritime lifestyle and vibrant neighborhood 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. Waterfront City also offers a state-of-the-art business park with efficient designs and ample car parking, along with leading international hotels that will round out the perfect setting in this prime location.
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About Joseph G. Khoury
Joseph G. Khoury, the founder of Socit Joseph G. Khoury & Fils Holding SAL, has been a long time contractor and pioneer. Since first creating the Socit Nationale d?Entreprises in 1965, Joseph G. Khoury was embarking on the long fruitful road of a master-builder, passionate of perfection and work well-done.
Under his directorship the Socit 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 approx. 2,600 linear meters of coast line and a total area of 1,003,000 m.
Today, this is what Waterfront City is proud to be part of.
Visionary and always looking for a competitive edge, Joseph G. Khoury founded many companies and after he passed away the Socit Joseph G. Khoury & Fils Holding SAL has taken over his mission and continues the journey on the way he intended.
Press Release 2015
