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BCD: Anticipated Phasing
The Project will develop in two phases:

PHASE 1

This phase marks the launching of the project and involves major expenditures on primary and secondary infrastructure, underground parking, marine works and landfill treatment.

During this phase, over 650,000 square meters of preserved build-up area will have to be refurbished before the end of 1996. The development of new buildings will, at first, be focused on two major urban magnets able to bring life back to the BCD: the traditional Souks area extending to Khan Antoun Bey, and the historic core with its traditional banks sector extending to Riad al Solh Square and including Place de l'Etoile and Maarad Street. 

In addition to these two major magnets, the first-phase new developments will also include the completion of the Hilton and Starco areas as well as the Saifiand Wadi Abou Jmil sectors.

At the end of this phase the western marina, with a capacity for 750 boats, will also be available.

PHASE 2

As the sea protection and landfill treatment works progress and are being finalized, the first years of this phase will be mostly dedicated to complete the development in the traditional area of the BCD. This will include, at the very beginning, the final renewal of the Martyrs' Square sector and areas surrounding the First Basin, as well as the new hotel district near the western marina. 

The completion of the marine works and landfill treatment will allow SOLIDERE to launch the new developments planned on the reclaimed lands. This will provide an opportunity for Beirut to extend its international business center to the north, as well as to create new attractive areas along the seashore for international tourism, cultural activities and housing.

Depending on the rapidity of the country's economic recovery, the corresponding figures of developed built-up area during these two phases will be as follows:

Main Areas Concerned Built-Up Area in Square Meters
Phase 1 Historic core
Saifi
Wadi Abou Jmil
1,400,000 to 2,450,000
Phase 2 Martyrs' Square
Hotels district
Ghalghoul
Reclaimed lands
2,240,000 to 3,290,000

ASSESSMENT OF DEMAND FOR BUILD - UP SPACE

Assessment of the demand for build-up space in the BCD has been done in reference to a number of macro-economic, demographic, and urban planning considerations at a time of marked need for new activity poles in the city, such as Souks, financial, cultural and recreational centers.

The development and reconstruction of the BCD accompanies an expansion of the Lebanese economy which makes the project the more interesting. Lebanon's GNP, valued at $5 billion in 1993, is expected to double during the coming 10 years, with an impressive growth rate of 7 to 8 percent.

As the country's economy continues to readjust to peace conditions, expected investment in expenditures during the coming 10 years, according to the government's Plan 2000, will be $19 billion in the private sector and $11 billion in the public sector. Bank deposits, currently estimated at $10 billion, are expected to increase substantially as Plan 2000 is implemented.

An increase in banking resources from new deposits will result in the availability of finance for the purchase of homes and the leasing of shops and commercial establishments. This is particularly relevant given the acute shortage of housing due to war-related destruction and population influx to the capital city. The population of Greater Beirut, today at 1.5 million, is increasing yearly at a rate of 2.5 to 3 percent. In the next 10 years, it is estimated that there will be a need for 400,000 housing units.

The BCD's attractive outdoor environment, rich in pedestrian areas, parks and squares is certain to make of the BCD a competitive area in a city generally lacking such amenities. At current figures - 12 million square meters were constructed in Lebanon in 1993 - SOLIDERE's entire built-up area of 4.69 million square meters, to be built over a number of years, represents only a small percentage of total construction in the country.

The return of peace to Lebanon and the dawning of a new era in the Middle East are certain to create a business expansion, more particularly as Lebanese entrepreneurs and representatives of foreign concerns return to Lebanon. Before the war, some 80,000 foreign families resided in Lebanon and this figure is expected to rise to 100,000 in the coming years, all of whom will be utilizing residential and office space. The BCD will be offering them, and the Lebanese at large, a choice location.

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