Major office building in Mathaf
Works launched on $25 million-project
Point A, a new office building project located in the Mathaf area of Beirut, has recently been launched. Construction works have already begun at the project, which will have a built up area of 20,000 square meters.
The offices will be offered for sale or rent within the next two months.
Point A is owned by Beirut-based Al Amana Real Estate. It is being developed by Antonios Project, the developer of Sama Beirut. Prime Consult, real estate consulting firm, is in charge of the financial and sales management of the project.
The project will cost between $25 million and $30 million. It will include 50 offices of areas ranging between 80 and 650 square meters. Prices of properties are estimated at around $4,000 per square meter. The building also features a large parking space, with a capacity for around 280 cars.
According to Massad Fares, the chairman of Prime Consult, uncompleted offices are provided to the customers, whether they buy or rent the property, so that they can design the office based on their needs.”
Fares expected the project to sell well. “There is a deficiency in office spaces (in Beirut) and there are very few investments in office buildings,” he said.
By Rania Ghanem
Date Posted: Mar 23, 2012