Malia Group has announced plans to build an 800,000 square meter resort in Anfeh. The project will be launched in early 2017 and will be ready in 2019.
The Group will own the resort and will lease out units.
“We are not targeting investors but people who wish to live in a gated city, which is what the project is about,” Jacques Sarraf, Malia’s Chairman, said.
The project will be developed through four phases. Investment in phase one will reach $70 million.
The resort has not been named yet.
Malia first entered the hospitality sector more than five years ago when it launched a hotel in Kurdistan-Iraq. The Anfeh resort, however, will be the Group’s first hospitality project in Lebanon.
In other news, Malia Group is planning to expand Pharmaline, a local pharmaceutical company that focuses on producing wide ranging branded generics.
businessnews.com.lb
20 September
