Two restaurant clusters planned in Zahle and Saida
Construction will start early next year on two restaurant clusters in Saida and Zahle.
The two projects are a joint venture between Venture Group, a hospitality concept development company owned by Marwan Ayoub and Rabih Saba, and a group of seven investors. Venture Group will develop the clusters over a period of two years, and will manage the projects once they open.
The project in Saida will be built on an 8,000 square meters (m2) land plot. The project faces Saida stadium and will have a sea view. It will be completed in late 2020.
Investment in the project is $12 million, of which $6 million will be provided by tenants. “We usually build the structure and leave the interior design and execution up to the tenant,” said Ayoub.
The Zahle project will be built on 10,000 m2 land plot in Haouch el Omara. Investment is $10 million, of which $5 million will be injected by the tenants.
Each project will have room for 20 outlets.
Venture Group is in negotiations with prime restaurant brands for both clusters. “We haven’t signed a contract yet,” Ayoub said.
Date Posted: Dec 07, 2018