opens in Hazmieh
First project by AHAS Group
AHAS Group, a real estate and contracting company, has inaugurated ‘Citywalk’, a restaurant cluster in Hazmieh.
The project is a partnership between AHAS Group, owned by Hussein Sbeity, Mohamad Kalakech, and Mohamad Taleb.
The land plot is 7,500 square meters (m2) in size, and the Gross Leasable Area (GLA) is 4,000 m2.
Investment in the project is $6 million, excluding the cost of the land, which is leased.
The cluster comprises restaurants, cafés, a kid’s area, and a spa and beauty lounge. The tenants include Square Café, and Liwan Café, each with 300 seats. It also includes Rock N Rumps, an American steak house restaurant, Tri-S, a sushi restaurant, Le Rouge, serving French cuisine, and Eye See coffee shop.
Sbeity, CEO of AHAS, said: “There is big competition in this area, for this reason we selected brands that are not available in this location.” The cluster faces City Centre Beirut mall, and is a few kilometers away from The Backyard in Hazmieh.
Sbeity said: “We leased around 75 percent of the project. Negotiations are ongoing with other brands.” He said that the remaining spaces will include diversified concepts and sweet shops.
The leasing cost ranges between $500 and $1,000 per square meter. The price differs depending on the location, the space, and the brand.
The project has created around 250 jobs.
The contractors for the project are AHAS and Center V. AHAS created a specific department for managing and operating the cluster.
Sbeity said that the company is planning to open another CityWalk cluster in the future. “We are still negotiating the location,” he said.
Date Posted: Apr 26, 2018