(MENAFN) Dubai-based Damac Properties has completed the foundations of its iconic Damac Tower in Beirut, the company said in a press release.
The company said the main contractor for the USD300 million tower project, MAN Enterprises s.a.l, have now finished the foundation works and the pouring of the raft involved laying 500 tons of steel and 4200.00 cu m of concrete.
The 28-storey building is being developed as the first exclusive Versace Home branded residential tower in the region.
The project is located in the elite marina area of the new Solidere development in Beirut. Damac Tower has extensive views of the Mediterranean, and the flowing curves and volumes of the 28 storey building were designed to emulate the surging waves of the ocean.
Managing director Ziad El Chaar said that there is a strong demand for property in the country from Lebanese expatriates who have been working away, and want to secure a property to live in when they eventually return home.