Lebanon Businessnews News

New Industrial City
coming to South Lebanon
Industrial lands for purchase at affordable prices
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Tebna Industrial City will be finalized in South Lebanon, in late 2015. Achour Development, a construction and property development company is managing the project.

The company has finalized the plan and took the license from the Directorate of Urban Planning. It is currently in the bidding phase for contractors. The results of the tender will be announced within weeks.

The cost of investment will exceed $50 million, by the date of completion. Mounir Bissat, Chairman of Syndicate of Lebanese Food Industries and Bissat factories, said: “Building industrial cities is a must in all regions, not only in the South.”

Tebna Industrial City measures 1.2 million m2 and is located 15 kilometers from Saida and 55 kilometers from Beirut.

Achour Development will equip the city with the required infrastructure. It will include stations for waste, water and sewage treatment. It will also comprise modern electricity and telephone networks, as well as roads.

Encompassing factories from all industrial sectors, the City offers industrialists to the possibility to purchase plots ranging from $125 to $200 per m2. About 20 percent of the land has already been purchased.

“The price of industrial land is still too expensive in Saida and its surroundings” said Bissat and that municipalities should offer the Mshaa’ for free to build the Industrial City. Industrialists require a minimum of 4,000 square meters to build their factories, which means, no less than $600,000 per plot. “This is too expensive and requires huge investments,” said Bissat.
Reported by Rania Ghanem
Date Posted: Sep 23, 2014
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