Lebanon Businessnews News
 

Le Mall to open
Jbeil property in 2019
In partnership with the Hawat family
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The existing Byblos Burgundy Mall, a concept developed by Hawat Investment, will be rebranded to become Le Mall, according to Georges Kamal, CEO of Acres Development, the company behind the Le Mall chain.

Acres Development has entered into a partnership agreement with the Hawat family to redevelop the property. Hawat Investment is made up of brothers Nabil and Ziad, who is also the Jbeil Mayor.

The investment value is around $50 million.

The present design will be revamped in order to be consistent with Le Mall’s brand identity.

Le Mall will have a built up area of 80,000 square meters (m2), and a Gross Leasable Area (GLA) of 27,000 m2. The land plot is rented for 30 years from the Maronite Waqf.

It will consist of three floors: Two dedicated to retail, one for entertainment purposes, including cinemas. There will also be a gym.

Excavation has already begun to meet the delivery date of 2019.

Acres Development is a subsidiary of Azadea, a retail company that owns and operates more than 50 international brands.

This is the country’s fourth Le Mall. Three more are located in Sin el Fil, Dbayeh, and Saida.
Reported by Yassmine Alieh
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Date Posted: May 22, 2017