Furn el Hayek is the high-end residential islet in the heart of Ashrafieh. It is very prestigious, highly exclusive, and home to the cream of the crop of the Lebanese social elite. What gives the area its irresistible charm is the network of pleasant streets, tree-lined and flanked by some of Ashrafieh’s most beautiful traditional buildings still left standing.
Developers have chosen to usually build only large luxurious apartments, which attract an older more affluent clientele. It’s an area seen as safe, clean and optimal for raising a family. There are some of the best schools and universities in Beirut in close proximity, and ABC Mall is just around the corner. There are also various supermarkets and upscale boutiques, restaurants and cafes as well as the odd trendy bar, such as The Wine Bar, which attracts a loyal local crowd.
Prices of new apartments in this area start at around 4,500USD/SQM on the first floor and apartments tend to be on the larger side with the average size of new apartments in 2015 being 373SQM. This makes for a sizable barrier to entry for a brand new apartment in the area but only serves to cement its exclusivity and place the area in even greater demand.