Real estate related news and press releases covering MENA region.
Arabian Construction Company acquires Gefinor
Jun 30, 2012
Lebanese construction firm, Arabian Construction Co has acquired the Gefinor Centre office complex in the Clemenceau district of Ras Beirut for $100m, The Daily Star has reported. Built in 1969, the Gefinor Centre has 26,000 sq m of surface area for rent that include 21,000 sq m of office space. It currently has 90% occupancy, 40% of which are comprised of old leases. Its rental prices range between $300 and $400 per sq m.