Damac Properties hits milestone in Beirut

Damac Properties, the largest private developer in the Middle East, has completed the raft foundation for its iconic ‘Damac Tower’ in Beirut, Lebanon. The main contractors MAN Enterprises have now finished the foundation works and the pouring of the raft is a significant development in the construction process. Pouring the raft involved laying 500 tons of steel and 4200.00 cubic meters of concrete. “The sheer volumes of raw materials used are staggering. 500 tons of steel is the equivalent of more than 480 motor vehicles,” El Chaar added. “This is a major milestone in the construction of Damac Tower. The foundations are crucial for the super-structure, but they take time to complete. Work will now really begin to accelerate and customers will see an advanced level of construction from this point forward,” said Ziad El Chaar, Managing Director, Damac Properties. The $300 million premium project, an innovative collaboration between Damac Properties and Versace Home, will deliver the entire Versace lifestyle concept to discerning residents through a high-end building with bespoke Versace Home interior design packages throughout. Damac Tower was launched as the first exclusive Versace Home branded residential tower in the region. Situated in the elite marina area of the new Solidere development in Beirut, Damac Tower has extensive views of the Mediterranean. Damac Tower will feature spacious private units resplendent with custom designed interiors. “Damac Tower promises to bring to Beirut a never-seen-before top-end designer lifestyle and appeal to a group of customers who know what they like and why they like it. They are discerning and stylish but with a passion for the dazzling and eye-catching.” Commenting on the real estate sector in Lebanon, El Chaar said: “Lebanon’s economy is forecast to expand about 3.5 per cent this year, according to the International Monetary Fund, making it one of the fastest growing economies in the region.” From gulftoday