Lebanon Businessnews News

Baabda Outlet Mall developed by Admic
Up to 70 stores will open next year
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Works on the Baabda Outlet Mall have begun, according to an announcement by developer, Admic, today.

Michel Abchee, Chairman of Admic, which owns City Mall, said that it is the first outlet mall to open in the country.

The $10 million mall, which will be located near the Bou Khalil Hypermarket, will have a total gross leasable area of 10,700 square meters. Rents will start at $500/m2 per annum.

According to Abchee, Baabda’s catchment area is estimated at 900,000 people and has over 200,000 cars crossing it, daily.

The project will be developed in two phases: The first will be completed in 2016 and will consist of a revamp and development of an already existing building, where a McDonald’s outlet is currently located. The second phase, which will add more space to the mall, will be completed by the fall of 2017. Investment in the project is $10 million.

The mall will have four retail levels, with space for 70 stores. An underground level will be dedicated to an anchor store. The mall will have a wide range of products at discounted prices. Abchee said that brands will be mid- to high- end. It will also include a food court and a children’s entertainment zone.

“In the longer term, we have plans to open additional similar concepts in other areas,” said Abchee.
Reported by Rana Freifer
Date Posted: May 13, 2015
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