As many developers and investors eyed the Lebanese real estate market cautiously at the start of 2007, Bassil Real Estate Developers (BREI) attracted significant local and regional attention for moving forward with new projects despite political uncertainty. Last month, BREI formally unveiled plans for the seventh edition of its luxury Convivium brand, a $15 million venture with leading Kuwaiti asset management and investment banking organization MARKAZ. The new ‘it’ neighborhood With a total development area of 12,000m2, Convivium VII, which will be built in the Badaro area of Beirut, marks the brand’s first departure from the Gemaizeh neighborhood, where Convivium I-III are located and IV-VI are at various stages of completion. In fact, BREI was among the first companies to recognize Gemaizeh’s potential: now, as the company shifts its gaze to Badaro, many people are beginning to speculate as to whether BREI might be, once again, ahead of the crowd.
