and hotel projects are soon to start in Saifi, Zokak El Blatt, Wadi
Abou Jamil and Minet Hosn.
The Saifi neighboring is regaining its residential
character with the progress of restoration and new construction. This
will be enhanced by the presence of such communal services as the
polyclinic under construction, and the health club which will be part
of SOLIDERE's Saifi Village.
Near one of the Saifi Village apartment buildings,
on George Haddad Avenue, the Association of Banks' headquarters adds a
quiet and dignified institutional note to the neighborhood.
The city center
is a focus of financial activity, with quality establishments ranging
from banks to insurance companies and other financial institutions.
Their counterpart in public institutions is of the
highest caliber: the Prime Minister's offices, the Ministry of Finance
and the Council for Development and Reconstruction. On the
international level, the United Nations agencies, grouped in UN House,
were joined by the World Bank's permanent Beirut office.
The financial cluster has traditionally been in and
around Riad El Solh street, also known as Banking street. The area
comprises the Arab Bank headquarters and branches of the following
banks: Atlantico, Beirut Riyad, Berliner, Byblos, Crédit Agricole, Crédit
Libanais, de l'Habitat, de l'Industrie et du Travail, du Liban et
d'Outre-Mer, Libanaise pour le Commerce, Libano-Française, Misr
Lebanon, North Africa, di Panama, Pharaon and Chiha, Société Générale
Libano-Européenne, and Banque de Syrie et du Liban.
The city center has witnessed an expansion of its
financial district both in the scope and location. The Arab African
Bank has moved to its new building on Riad El Solh street.
Assicurazione Generali has recuperated its building, and additional
insurance companies include Arab Reinsurance, medgulf, Assurex and UFA
With activities overflowing to the additional
areas, Foch-Allenby will house such banks as Bank of Beirut, Crédit
National, Lebanon and Gulf, Méditerranée, Misr Lebanon, Saudi
Lebanese and Société Bancaire. Jordan National Bank will be in the
late Ottoman Tanios and Massoud building in Bab Idriss, along Weygand
The nearby Bank Audi headquarters, strategically
facing Park Avenue, heralds another extension of the banking district
towards the newly planned sectors of the city center. Further north,
Middle East Capital Group is proceeding with its new development.