Lebanon Businessnews News

Naas Springs Wellness Hotel underway
First phase to be ready by next year
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The Naas Springs Wellness Resort is expected to finalize its first phase by early 2015, according to a senior executive at FFA Real Estate, the project’s developer and a fully owned subsidiary of FFA Private Bank. The project is owned by a group of Lebanese, expats, and foreign investors.

The estimated cost of the project will rise above $100 million. “We will commission the contractor very soon, and we are currently dividing and selling parcels,” said the FFA official.

Naas Springs Wellness Resort stretches over more than 132,000 square meters of land, and will have a built up area of 71,000 square meters.

Naas consists of ‘The Naas Springs Wellness Hotel’, a spa called the Naas Wellness Center, and the Naas Springs restaurant, along with a number of private 'parcels'. The hotel will consist of luxury rooms, whose number has not been announced, yet.

Phase one will start the implementation of infrastructure in 2014 to be completed within a year. The second phase of the project is expected to be completed by 2017.

In 2009, FFA purchased shares in NAAS Water. The shares have been acquired by FFA Private Bank and a group of investors who aimed to re-launch the company’s activity and capitalize on its brand and water characteristics. The luxury wellness center was announced and works kicked-off in 2011.

Reported by Rana Freifer
Date Posted: Feb 17, 2014
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