Half of units already sold or booked
The first phase of the Oakridge Mountain Resort, a major residential and mixed use project in Faqra, has been delivered.
50 units are already available. The selling price starts at $3,600 per square meter. Annual rent is $12,000 for studios and $30,000 for two-bedroom apartments. Joseph Mouawad, a partner in the project, said: “More than half of the project has already been sold or reserved.”
The compound will offer a total of 90 units of different specifications, stretching over a total area of 46,000 square meters. It is developed by Mouawad Projects and designed by Samir Khairallah & Partners. Overall investment reached $50 million.
The rest of the project will be delivered by end-2014. When completed, it will comprise five zones. The ‘Residences’ consists of simplexes and terraced residences, with a common pool. ‘Condominiums’ are located in buildings either at the garden level, or on the first or second floor. The ‘Townhouses’ include a rooftop area and basement, with private gardens and terraces. The smaller ‘Villas’ each have a private pool, and garden.
Part of the project, the ‘Lodge’ is a 12,000 square meter public area with a bar lounge, restaurant, conference and business center, convenience store, a gym and spa, and recreational areas. It also includes 15 guest rooms and three executive suites.
Reported by Yassmine Alieh
Date Posted: Aug 14, 2013