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MENAFN - - 19/12/2011

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(MENAFN) Dubai-based developer Damac Properties awarded a USD67 million contract to MAN Enterprise to build a new tower in Beirut, Lebanon, Arabian Business reported.

The wining company will carry out main building works for the 28-storey Versace-branded residential tower, scheduled to complete in the final quarter of 2013.

The project, which overlooks the Solidere Marina in Downtown Beirut, will comprise one, two, three and four bedroom apartments starting from USD700,000 per unit.

Damac said this month it had secured investors for almost 40 percent of the tower's apartments, after signing a deal with Italian fashion house Versace to oversee the interiors last June.

Damac, like other developers, moved its projects to new markets away from Dubai, after the Gulf emirate's real estate bubble burst in 2008.
 






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