Kaslik Avenue project launched
$40 million mixed-use concept to become operational in 2018
Works on ‘Kaslik Avenue’, a mixed use development located on the internal Kaslik road began two months ago.
Owned by Kaslik 1766, the $40 million project is being built on a 5,400 square meter plot. When completed in 2018, Kaslik Avenue will be a commercial and retail facility. It will consist of a ground floor and mezzanine, four aboveground floors and four basement levels for parking and stocking sections. The total built-up area is around 19,000 m2.
Fadi Feghali, Chairman and major shareholder said that clothing shops, jewelry boutiques and banks are the main clients. The company is not leasing contracts, only selling the units. Retail spaces vary between 160 m2 to 400 m2 per outlet, starting at $6,000/m2. Office sizes range between 80 m2 and 200 m2, for $3,000/m2. These office units can have sizes up to 800 m2.
The project’s contractor is Zerock and the architect is Lab Square.
Date Posted: Feb 23, 2015