Hanging on in there

For the time being Verdun is still Beirut’s leading shopping district. This is the verdict from retailers and real estate brokers alike, who despite acknowledging that the area will eventually feel the pinch from Beirut’s Central District – believe that Verdun has the ‘critical mass’ to weather the storm However, many experts feel that this optimism for the district’s viability may generate overly optimistic business initiatives – such as the proposed $120 million, V5 shopping center with its planned 50,000m2 of net retail space, and another 12,000m2 development adjacent to the Concord Galleria in northern Verdun, which experts say will firm up both ends of the shopping district. In the meantime, the jewel in the crown of Verdun remains the Dunes commercial center, which with its Holiday Inn, cinemas, food courts, amusement arcades and shops – is arguably the most successful multi-purpose retail development in the country. The complex, which