Which upcoming projects offer the biggest flats?
Three of the largest five apartments in Ashrafieh are located in the Golden Square of Furn el Hayek, the most luxurious neighborhood East of Beirut Central District. Not surprising, as owning an apartment larger than 1,200 SQM is a rare luxury, reserved only for the most prime of the high-end residential projects. These large apartments usually take up the last floor or floors of luxury high-rises, with breathtaking views of the city. Simplexes, duplexes, or triplexes, they often have large terraces or hanging gardens and some unique features not to be found in standard apartments, even those of very high standing. These rare products are exclusively reserved to a privileged few.
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.
Sassine Square is the uncontested historical heart of Ashrafieh. It is the place for public gatherings and demonstrations as well as public, cultural and artistic events. It is also a known business destination although only a dozen office buildings out of more than 100 in Ashrafieh are located in that neighborhood. Despite the fact that it is not a prime office center, Sassine and its immediate surroundings are a high-performing niche market. Future prospects are rather limited, as the area lacks vacant plots ready for development and is difficult to access particularly in peak hours. The limited stock, however, ensures the continued good performance of the sector.