clusters by Venture Group
Total investment to reach $56 million
Venture Group, a development and consulting company, is working on a series of F&B cluster projects that will be located in Jounieh, Jbeil, and Ramlet el Bayda.
Total investment is expected to reach $56 million. Completion date will be in early 2019.
Rabih Saba, Managing Partner, said: “The design phase has already been completed for all three projects and includes outdoor spaces, retail, F&B clusters, and recreation facilities.”
The Jounieh project will have nine floors and will span more than 4,000 square meters (m2). It will comprise a hypermarket, a superstore, a gym, cafés, restaurants and bars, as well as including a parking lot. Investment is around $16 million.
Saba said: “We are negotiating with international brands for the restaurants and cafes, but we haven’t signed any contracts yet.”
The Jbeil project will be located on the northbound side of the North Highway. Saba said: “There is great potential for this particular project as it is also in the North region’s catchment area.”
The project will be built on a 34,000 m2 plot. It will include retail and full recreational facilities consisting of 12 outlets that include restaurants, cafés, outdoor space, a gym, and a ten-screen cinema complex. Designed by C-Lab Architects, investment is estimated at $25 million.
Investment in the Ramlet El Bayda project is expected to reach $15 million. Saba said it will have a contemporary design with a full sea view and include F&B outlets, a gym, and football and tennis courts. Construction will be on a 10,000 m2 plot.
Venture Group, co-founded by Rabih Saba and Marwan Ayoub, is behind the development of ‘The Backyard Hazmieh’, ‘The Village Dbayeh’, Uruguay Street nightlife area located in Beirut Central District, and the upcoming Restos St. Nicolas in Ashrafieh.
Date Posted: Aug 05, 2016