MAN secures Damac contract
01 January 2012
DAMAC Properties has awarded the main construction contract for its Versace-branded residential development, Damac Tower in Beirut, Lebanon, to MAN Enterprise.
The $67-million contract entails the construction of the first Versace-branded residential tower in the region. The award of the main contract follows the completion of the enabling works by Zetas Apex Foundation Technologies.
“We have already sold 40 per cent of the tower, which is a remarkably high percentage for a development which is now beginning to progress beyond the foundations,” said Ziad El Chaar, managing director of Damac Properties.
“Once we reach above the podium levels, we expect construction to progress at an advanced pace,” he added.
The 28-storey tower overlooking the Solidere Marina combines Versace interiors and a unique architectural design, on the shores of the Mediterranean.
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