Representatives of the Abu Dhabi Investment House (ADIH) recently announced that work will begin on its $600 million ‘Beirut Gate’ project in central Beirut.
Beirut Gate will be an integrated commercial and residential sea view project in the Beirut Central District, often known as ‘Solidere,’ according to Gulf News Daily.
The development will comprise eight plots spread over 21,448sq/m and a built-up area of 178,500sq/m overlooking the famous Martyrs' Square of Lebanon, downtown Beirut and the Mediterranean.
Four world-renowned architects arrive in the city in order to finalize Beirut Gate’s design master plan. There they will take part in the final design workshop for the project.
"We are excited that this project is ready to proceed and we are sure this development will provide a major boost for the people of Beirut and the economy of Lebanon,” said ADIH's executive director of real estate, Nicholas Fraser.
"Beirut Gate will be an exceptional project and we are confident that it has long-term value, which will deliver healthy and sustained returns to investors," he added.