Lebanon Businessnews News

Kuwait’s UREC develops Raouche building
Delivery expected by end of next year
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The local branch of Kuwaiti firm United Real Estate Company (UREC) is developing a new residential gated community in Beirut: Raouche View 1090. The project’s architect is Khatib & Alami and the contractor is Ramco. The building is set for completion in December 2014.

The project's construction cost is estimated at more than $50 million. The residential tower comprises 22 stories, with 40 units of 535 square meter area and two 1,000 square meter penthouses. Apartments are still being sold at the building which overlooks the Raouche Rock.

Charbel Khoury, Sales Manager at UREC, said: “The project’s total area stretches to around 5,000 square meters.” He said: “The building includes amenities such as indoor and outdoor pools, in addition to a 3,000 square meter landscaped garden and a health spa that serves the building’s residents”. A maintenance team is on standby every day.

The price of one square meter starts at $7,500 at ground level and increases by $100 per square meter with every higher floor. Starting the 14th floor the price is increased by $200 per square meter with every floor.

UREC is the Real Estate arm of Kuwait Project Company KIPCO.
Reported by Yassmine Alieh
Date Posted: Apr 29, 2013
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