Beirut!

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Beirut!

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Beirut!

I love the spire on this tower

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hassoun

ok,now these maybe old news,but i ind it important to post it here.

Abu Dhabi Investment House Announces Maiden Investment in Lebanon, Opens US$160 million Private Placement for Prestigious Beirut Gate Project

• Integrated project with a built-up area of almost 1.9 million square feet
• Investment offers 37.5 per cent return over 18-month period

Abu Dhabi, January 16 2006: Debuting in Lebanon, Abu Dhabi Investment House P.J.S.C (ADIH) today announced the launch of its third investment instrument since inception – a US$160 million private placement, to fund the development of the first phase of `Beirut Gate,’ an integrated sea view project in the Beirut Central District, commonly known as Solidere.

Announcing the significant investment offer to regional investors, ADIH officials said the placement is an ideal opportunity for regional investors to maximize returns on investments leveraging the growth of the real estate sector in Lebanon.

Commenting on the entry into Lebanon and the placement offer, Mr. Rashad Janahi, Chief Executive Officer of ADIH, said: “Lebanon’s real estate market is one of the leading destinations of foreign investments and our entry into this market is a significant step in our strategy of offering growth-oriented sophisticated investment opportunities to our clients with regional focus.”

“Beirut Gate has been conceived as a landmark project at the entrance of the Beirut Central District, which is the financial heart of the city. The project comprises seven plots on a total foot-print area of 229,871 square feet and a built-up area of almost 1.9 million square feet overlooking the famous Martyrs’ Square of Lebanon, downtown Beirut and the Mediterranean,” he said.

Beirut Gate will be a mixed-use project encompassing commercial and a major residential component, enabling investments in the prime location within the capital city of Lebanon.

ADIH is the investment manager for the entire project and the placement offer for the first phase of Beirut Gate is projected to offer a Return on Investment of 37.5 per cent over an 18-month period.

“The proceeds from the private placement will be utilized to pay for the initial cost of the land, master plan, Architectural design and obtaining the necessary construction permits for the development of Beirut Gate. The minimum subscription in the placement is US$100,000 and subsequent investments can be made in trenches of US$50, 000,” Mr. Janahi said.

He said the prime location of Beirut Gate in itself is an attraction and the project is in the proximity of Foch-Allenby area famed for its historic and diversified architecture blending Ottoman, Italian and French styles, the symbolic Martyr square, Place de L’Etoile, and the predominant shopping district, The New Souks.

“We are confident that the placement will generate a huge response considering Lebanon is a favoured destination for investors, particularly from the Arab countries since post 9/11. Beirut has been the centre of attraction for investors considering it is one of the most cosmopolitan Arab cities. The Beirut Central District is an historic area which has been rebuilt after the war under Societe Libanaise Pour Le Development et La Reconstruction (Solidere), and Beirut Gate is a unique project investors can be proud of participating in,” Mr. Janahi said.

Blending well with the traditional fabric of the city, Beirut Gate will be developed on the Martyrs’ Square axis that extends to Damascus Road, which passes through the middle of the city and to the port. The project is also close to the highway providing access to the airport.

“The Beirut Gate placement also marks our entry into markets outside the GCC in the region. In line with our charter to offer unique investment mechanisms, we are also in the process of developing instruments that will tap growth opportunities in international markets,” Mr. Janahi said.

ADIH, headquartered in Abu Dhabi was established in September 2005 and its investment offers include Al Arabi Private Equity Fund and a US$100 million Energy City – Qatar private placement which the financial institution offered exclusively in the UAE. The Energy City placement was successfully closed recently.
Ends

For further information contact:

Jayakrishnan B / Eyad Mohammed
Percept Profile Gulf (PR)
Dubai, United Arab Emirates
P.O. Box No: 74245
Tel: 00971 4 3446373
Fax: 00971 4 3429158
Email: info@perceptprofilegulf.com

hassoun

Kuwait Investment House Launches US$158 million Private Placement for Beirut Gate in Partnership with Abu Dhabi Investment House

Kuwait Investment House Launches US$158 million Private Placement for Beirut Gate in Partnership with Abu Dhabi Investment House

Minimum subscription US$100,000; Subsequent investment in multiples of US$50,000

Investment to offer 37.5 per cent returns in 18 months time frame

Acquires 600,000 square feet of land; development to be branded as `The Lagoon’ with one kilometre walk-way

Kuwait, April 14, 2006: Kuwait Investment Company (KIC) in partnership with Abu Dhabi Investment House P.J.S.C. (ADIH) today announced launching a US$158 million private placement for Beirut Gate, an integrated sea view project in the Beirut Central District, commonly known as Solidere.

The project comprises seven plots spread over 21,447 square metres and a built-up area of 178,000 square metres and will encompass commercial and residential components, overlooking the famous Martyrs’ Square of Lebanon, downtown Beirut and the Mediterranean. Plots in the mixed-use project will be offered to developers.

Announcing the private placement, senior officials of KIC and ADIH said the investment offering is expected to provide a return of 37.5 per cent in a time-frame of 18 months and 25 per cent on an annual basis. The private placement will offer investors an opportunity to subscribe to 15,800,000 shares in the Beirut Gate Holding Company, wholly-owned by ADIH.

Each share is priced at US$10 and the minimum subscription in the private placement is US$100,000 with subsequent investment in multiples of 50,000 shares.

Commenting on the private placement, Mr. Ala Hamad Al Rumi, who heads asset management in KIC said: “We are proud to be the strategic partners in the private placement for Beirut Gate which is in line with our mission to offer investment products which ensures best returns to our clients.”

“Beirut Gate is one of the unique projects and we are confident that it has long-term value, delivering sustained good returns. Beirut Gate property is the newest property in Solidere offered to investors and we are very confident that the private placement will attract considerable enthusiasm from investors,” he said.

Commenting on the partnership with KIC, Mr. Fawaz Al Jowder, Director, Investment Placement of ADIH, said: “Our partnership with KIC for Beirut Gate endorses our strategy to join hands with leading financial institutions in the region to offer sophisticated investment opportunities to investors. Beirut Gate is a landmark development in Lebanon and a significant investment opportunity to regional and global investors keen to take part in the growth of Lebanese real estate.”

Ends

For further information contact:

Jayakrishnan B/Eyad Mohammed
Percept Profile Gulf(PR)
Dubai, United Arab Emirates
P.O. Box No: 74245
Tel: 00971 4 3446373
Fax: 00971 4 3429158
Email: info@perceptprofilegulf.com