“We chose Herzog and De Meroun due to their global reputation and distinct style,” Benchmark said. The Swiss firm has a rich portfolio of projects, out of which are the Beijing National Stadium and Tate Modern in London, the Allianz Arena Soccer Stadium in Munich, as well as some residential projects in New York.

The Swiss firm was one of three international architectural firms that Solidere has selected for the site.  The other companies competing were- London-based, Stirk Harbour and Partners (Richard Rogers), and New York-based, Rafael Vinoly Architects. During the competition phase which was launched last winter, and lasted for months each company presented its own schemes.

 “At the moment, the project is under design,” Hisham Jaroudi, assistant developing manager of the project, said. The Beirut Terraces site known as Block 18 has been sealed off and the fence erected, and excavation works are expected to start soon.

Benchmark currently manages a regional portfolio of real-estate projects valued at over $1.4 billion. One of its real-estate projects, the Wadi Hills Residence located in Wadi Abu Jmil is currently under construction. Wadi Hills spreads out on an area of 8,000 square meters, boasts 65 apartments, as well as a number of retail outlets and community amenities. 

Regionally, the company is working on community developments in Yemen and towers in Saudi Arabia and Morocco.