Lebanon Businessnews News

New commercial tower in Badaro
Consortium of four real estate companies to build 20-story office building
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A new office building dubbed 'ISOCELE Tower' is coming up along Sami el Solh Avenue in Badaro. The 20-story high-rise project by Trillium Development, a subsidiary of Mercury Development, will be offcially launched on June 15.

The project's name ‘ISOCELE’ refers to an isosceles triangular which is also the shape of the land on which the project will be built.

"The building will have only retail and office space. The tower will have three floors for retail," said Mireille Ziade, sales and marketing manager at Mercury Development.

Prices range between $3,500/m2 and $4,000/m2. Ziade said that so far two floors that include 11 offices have been sold.

The building includes seven basement levels offering parking lots for visitors.

Trillium Development, established on June 1, is a consortium of four real estate firms: IDEAL Development, Dolmen Contracting, DNA, and Mercury Development.

Mercury, Dolmen, and DNA are sister companies.

According to Joe Abou Abdo, CFO of Mercury Development, the consortium was set up specifically to develop the ISOCELE project, the four real estate firms continue to work seperately on their own projects.

Reported by Rana Freifer
Date Posted: Jun 12, 2012
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