Waterfront City project launches in Dbayeh

Lebanon may be confronted with a challenging political and economic outlook, but this did not discourage two of the country’s biggest real estate developers from launching a joint venture for a business park in the outskirts of Beirut. Dubai-based property firm Majid Al Futtaim (MAF) and contractor Societé Joseph Khoury et Fils Holding unveiled their plan on Monday for a business hub within their Waterfront City project in the northern Beirut suburb of Dbayeh. “We believe that the wave of negativity the country is going through is not a reflection of the actual reality on the ground,” MAF’s senior project director Samer Bissat told Executive. According to Bissat, Dbayeh has different potentials and needs than Beirut’s central district, which is currently facing a crisis in office property demand. “The situation in Dbayeh is reversed,” he says. “There is a lack of good quality office space and the feedback we had