While 2010 saw the launching of five development megaprojects, all in downtown Beirut, this year saw a more modest track of real estate announcements. The biggest by far was the Waterfront City project, a joint venture between Joseph Khoury Holding and the United Arab Emirates’ Majid Al Futtaim Properties, which will encompass 5,000 residential units along with a Carrefour shopping mall and entertainment complex at the Dbayeh marina. In July, Walid Bejjani, a member of the board at Waterfront City, told Executive that while investment in the first phase is around $200 million, the overall expenditure will exceed $2 billion. In June, Solidere and London’s Stow group (the developers behind downtown’s first high-rise, Marina Towers) announced they had joined forces to create Zaitunay Bay, which will see Beirut’s marina lined with 22 shops and restaurants, all leading to a membership-only yacht club with 53 serviced residences. Prices will float at
