The joint venture of UAE-based Majid al-Futtaim and the local Ste Joseph G. Khoury et Fils Holding have launched the first phase of a mixed-use real estate project north of Beirut.
The Waterfront City project will be built on the Joseph Khoury Marina Stretch, located 15km north of Beirut. The development will cover a total area of approximately 193,600 square metres and when completed will contain more than 5,000 residential units.
The first phase will involve the construction of seven buildings, retail zone and a promenade with restaurants.
The Waterfront City development will form part of a 1 million sq m reclamation project that was completed in 1997. The current infrastructure, such as roads and footpaths, will be upgraded by the developer.