Lebanon Businessnews News

Shopping Park
is coming to Tyr
First phases sees 120 shops
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Work on the Sahely Souks Shopping Park is underway. The park is located on a 82,000 square meter plot in Abbassiyeh, at Tyr’s northern entrance, and will eventually include a total of 600 outlets.

The project is divided into three phases. The first phase has a total built up area of 18,100 m² divided into 17 blocks and 120 outlets.

The opening of the first phase is scheduled by the end of June.

“All outlets in the first phase have been leased,” said Hanadi Ghanem of Sahely Souks.

Leasing prices start at $120 per m2 per year.

The souk’s design is based on a steel structural repetitive module with a simple rectangular plan aligned with the main road. The blocks’ internal height reaches nine meters. The spaces are divided over the ground floor and mezzanine level, offering commercial spaces with sizes ranging from 100m² to 3,300m².

Ghanem said that investments in only the first phase reached $5 million. The project is roughly expected to cost $25 million.

Major tenants include Khoury Home and Bohsaly Sweets.

Sahely Souks is owned by Fouad Sahely, an expat businessman based in Congo.
Reported by Yassmine Alieh
Date Posted: May 24, 2017
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