Lebanon Businessnews News

MAN Enterprise wins $67 million contract for Versace Tower construction
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DAMAC Properties, the Dubai-based real estate developer, announced that it has awarded the main construction contract for ‘DAMAC Tower’ to MAN Enterprise.

The $67 million contract is earmarked for the construction of DAMAC’s Versace-branded residential development in Beirut’s downtown area.

DAMAC said that the enabling works were conducted by ZETAS Apex Foundation Technologies.

The Managing Director of DAMAC Properties, Ziad Chaar, said that 40 percent of the tower has already been sold. The 28-storey tower was launched in June 2010. It is expected to be completed in 2013.

“Once we reach above the podium levels, we expect construction to progress at an advanced pace, which will likely result in a dramatic acceleration of sales as we proceed towards completion”, Chaar said.

MAN Enterprise is a Lebanon-based company with operations in the Middle East and North Africa. It has subsidiaries in Qatar, Dubai, Abu Dhabi, Jordan, and Libya.

“DAMAC Tower is an architectural marvel and we relish the opportunity to be involved with a project of this caliber” said Michel Abi Nader, Chairman and General Manager of MAN Enterprise.

MAN Enterprise is also the main contractor of Sama Beirut tower in Ashrafieh. It has also undertaken the construction of the ABC Mall in Ashrafieh.
Date Posted: Dec 19, 2011
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