Forest Resort, a mixed-use touristic project in Ain Saade, has been launched by William Zard Group, a real estate company. Excavation for the project will begin in August. The project is scheduled to be completed within two years.
The project will be built on a 130,000 square meters (m2) land plot. The built-up area is 30,000 m2. “The eco-friendly project will be a destination for families and is located on a 350 m2 altitude,” said Chairman William Zard Abou Jaoude. He said that there is still a shortage in the region for outdoors projects.
Forest Resort will also comprise a 25-room boutique hotel, a spa, gym, indoor and outdoor swimming pools, a tennis court, and a mini golf playground. The resort will have a 1,000-car parking.
The project also includes a food and beverage cluster, with up to ten branded restaurants. “We will diversify our choices to cater for all age brackets,” Abou Jaoude said.
William Zard Group has invested $18 million in the project, excluding the cost of land. The project benefited from incentives provided by Investment and Development Authority in Lebanon (IDAL), such as exemptions from income tax and dividend tax for ten years, as well as a 50 percent reduction in construction permit and work permit fees.
Around 100,000 m2 of the project will be dedicated for a natural park, which will have 1,500 pine trees and hiking trails.
Bematec is the engineering company, and Rita Khattar is the architect of the project.
The project will create 219 full-time job opportunities.
Business News
14/06/2018
