Which streets top the list?
Plots for sale in Ashrafieh are a rare product. Some areas have always had a special cachet, while others have developed an image over the past several years. The heart of prime Ashrafieh has traditionally been the area of Sursock, which now sits at the center of the area known as the “Golden Square.” The scarcity of land in the surrounding areas has spilled into neighboring areas, including Abdel Wahab el Inglizi Street or Georges Haimari Street. Other streets are prized for different reasons: Charles Malek Avenue, for instance, is Ashrafieh’s prime business center, while Georges Haddad Avenue has the advantage of sitting at the entrance to BCD. The highest land prices in Ashrafieh reach a value of around USD 2,500 per BUA.
Charles Malek Avenue
The business equivalent of Sursock Street, Charles Malek Avenue is the most prestigious commercial hub of Ashrafieh. With some of the most prime business centers of Beirut, the street has a very good image and is home to some of the leading businesses in town. Compared to building residential developments, the cost of building offices and retail is considerably lower.
The most prestigious residential street of Ashrafieh, Sursock Street carries the prestige and aura of one of the oldest families of Beirut. Lined with a few beautiful palaces, most notably the famed “Sursock Palace” and the Linda Sursock Museum, the street is quiet, green, and very pleasant.
Georges Haimari Street
The culminating point of Ashrafieh, this street has the tallest towers of the area. The rooftop of Ashrafieh is 40 floors from ground level. This ability to reach the clouds makes Georges Haimari Street a very lucrative investment to developers – prices usually go up by USD 100 per SQM per floor, so the 40th floor should sell at USD 4,000 more per SQM than the first floor. The only plots available are located on the southern side of the street. This is slightly less attractive than the northern side, which puts a slight downward pressure on prices.
Eastern Georges Haddad Avenue
The area of Saifi is a mixed commercial and residential neighborhood, with either apartments or offices on the upper floors and retail on ground floor level. Although the area lacks a special cachet, land prices are boosted by one major consideration: Its bordering of BCD and its proximity to Saifi Village. Saifi has the added advantage of not falling within the Solidere urban regulation zoning, and thus is not restricted by the building constraints of Solidere.
Abdel Wahab el Inglizi Street
This prime residential street is within Ashrafieh’s Golden Square. It caters to the upper-middle-class of Ashrafieh, with some of the capital’s most impressive mega-developments. The fact that there is only limited high-end retail on ground level boosts the street’s image and the price of apartments.
Street / Land Price* (USD/BUA)
- Charles Malek 2,300 – 2,500*
- Sursock 2,250 – 2,400
- Georges Haimari 2,100 – 2,300
- Abdel Wahab el Inglizi 2,000 – 2,300
- Eastern Georges Haddad 2,000 – 2,300
* Price of buildable, sellable area allowed on the plot as per governing zoning regulations