UAE private property developer, Damac Properties, announced on Monday plans to team up with international icon Ivana Trump in the construction of the new 'La Residence' tower, a $150 million real estate venture within Beirut City Center.
The launch of 'La Residence,' a 27-storey tower offering a mix of one, two and three bedroom apartments, as well as duplexes and penthouses, will reportedly be Damac property's launch into the international arena as a global brand, according to Khaleej Times. "The brand will be rolled out," said sales director, AS Subbaraman, at the launch.
The tower is set to be located at the prime intersection of Omar Daouk and Fakhreddine streets. The plot upon which the tower is to be built will be handed over in early 2007, while the foundation period will last 36 months.
The La Residence tower will be the 51st project in Damac's portfolio, and will be available on a freehold basis. Both GCC residents and those of Beirut are expected to express interest in the tower properties.
Damac is the largest private property developer in the UAE, and positions itself as a luxury lifestyle provider. Trump has endorsed and contributed substantially to the project's design.
