Noor International Decides to Come Out of the Water

The company that hoped to bring us the floating cedar tree off the Lebanese coast has decided to take on “more grounded” projects:

Noor International Holding, a leading Lebanese real estate development company, has announced the launch of ‘Harissa Elite Residence’, the company’s latest real estate development project that seeks to combine state-of-the-art luxury urban living with natural beauty.

[...]

The launch of ‘Harissa Elite Residence‘ will complement the host of landmark real estate projects that Noor International Holding is currently involved with in Lebanon and abroad. Among the key Lebanon-based projects of the group are ‘The Canadian Town‘ in Aramoun, which consists of 22 buildings; ‘Sawfar Country Club,’ comprising 148 residential units; five projects in Dohat Al Hoss and four modern buildings in Khalde (Khalde Hills); Beyout Al Yasmin in Azza; La Rosa in Bekaa; and Al-Khaled project that holds two residential buildings located in Jiyeh Hills (Zarout). Aside from these current line of projects, Noor International Holding will soon be announcing new projects in Bsalim, Laqlouq and Koura; in addition to Noor Beirut project that comprises two residential 14-storey high rise towers located in Bshara Al Khoury at a close proximity from Beirut Central District.

Its good to see that they haven’t focused all their resources on the Cedar Island. Now only if this “leading Lebanese real estate development company” can complete one of their projects so that we can determine for ourselves how “leading” they are.

Zawya: Harissa Elite Residence

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Downtown Beirut: The Model of Urban Development

The Sao Paulo Housing Unit in Brazil (Secovi/SP) is organizing the International Forum on Urban Development to be held in the city on September 21st and Beirut will be their first topic of discussion:

Specialists from Brazil and the world over will show models of cities where real estate intelligence was used in favour of urban development. According to businessman Basilio Jafet, the development vice president of Secovi/SP, in spite of having been devastated by decades of wars, the historical centre of Beirut is now one of the most notable examples of revitalization and reconstruction.

Could his family tree, with roots extending deep into Lebanon, been a factor in his decision to push Beirut to the forefront of the event? Well in any case, its always good to hear Beirut discussed in a positive environment though I know many who would disagree in referring to the development of Beirut Central District as “real estate intelligence … in favor of urban development”.

Jafet was a member of a group of 20 Brazilian businessmen that visited Lebanon in January this year, and was very impressed with the city. “Beirut is experiencing a renaissance and is one of the greatest examples of reconstruction of the last decades,” he said.

Beirut, the capital and largest city in Lebanon, will be the first case to be presented to participants of the International Forum on Urbanism in Sao Paulo, Brazil.

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Versace’s Damac Tower Soon in DT Beirut

For those of you who like the changing Beirut skyline, you maybe interested to know that there is another tower coming up (for those of you who don’t like the “down with the old, build the new” craze, you might want to turn away):

Dubai developer Damac Properties on Friday announced the launch of Damac Tower in Lebanon, a project in collaboration with Italian fashion giant Versace. The 28-storey luxury tower is slated for completion in 2013 and will be built in downtown Beirut. Apartments in the tower will start from $700,000.

ArabianBusiness.com: An artist's impression of the joint Damac/Versace project in Lebanon.

Update – July 11, 2010: Zetas Apex Foundation Technologies has been appointed by Damac to handle the enabling works which will require 9 months to complete.

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Restart for Natour Development

Just when Cedar Island has hit the wave breakers, Natour Development up north has finally released lifted its anchor:

The $500m Natour development is no longer on hold and the project developer says design work will be completed by June.
The Natour project, located near Anfeh, south of Tripoli, covers an area of 485,000 square meters, and includes two hotels, residential villas, a large marina, shopping mall and other associated facilities such as swimming pools and spa. The masterplan also incorporates 450 meters of seashore and an old Cistercian monastery.

Work on the project originally started in 2004 but the Hariri Assassination and everything that came after that lead to a hold on the project.

The project was also stalled by planning problems with the local authorities over straightening of the coastal motorway linking Anfeh and Tripoli.
The developer and the authorities have now agreed to replace part of the road and the project is now free to go ahead.

Hotels, Shopping Malls and Spa, Oh My: Natour Development will neighbor Our Lady of Al-Natour Monastery

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The Cedar Island Could Be Getting a Sister

The Cedar Island project launched by Noor International may be getting a neighbor in brotherly Syria:

Lebanon’s Noor International Holding said Thursday it had proposed a plan to Syrian authorities for a $10 billion real-estate development. The Arab Stars Islands project is set to cover an area of about 907,000 square meters and will consist of two artificial islands off the Syrian coast and shaped like the two stars in the country’s flag, the property developer said in an emailed statement.

OK, so you build islands based on a country’s flag? How original. With offices in 7 Arab countries as well as Rwanda, the UK, US and China, should we expect other “cut-out flag” projects? This cant be good.

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