The acquisition of the former Carlton Hotel seafront property by Jamil Ibrahim Establishments in mid-January gave Lebanon’s real estate sector an optimistic start to the year. According to Karim Ibrahim, managing partner of the firm, this was “one of [Lebanon’s] the largest real estate transactions.” The eventual plans for the site will be contested in an architectural contest with a deadline of March 30. This is not the only big development taking place as many grand luxury residential complexes are going up across the city. Of particular interest these days is Wadi Abou Jamil, a residential area in the Beirut Central District. Several five-star residential projects are underway by premiere developers such as Stow’s Stow Wadi complex, Mouawad’s The Pavillions with a separate villa and townhomes, and Ven Invest’s Wadi Residence of 80 apartments, each ranging 100-900 square meters (sqm). The Sursock area in Achrafieh is also a new hotspot
