Deyaar to hand over Saifi Village II in July

Saifi Village II comprises 72 state-of-the-art, upscale apartments and penthouses strategically located within the landmark Beirut City Center master development.

Designed by leading Beirut-based architecture firm, Nabil Gholam, Saifi Village II overlooks the iconic Martyr's Square and Debbas Piazza.

Markus Giebel, Chief Executive of Deyaar, said:

"The Beirut City Center is a truly prestigious address in Lebanon and Saifi Village II is strategically located at the confluence of this premier social, business and cultural district. The project offers residents an inspirational lifestyle and a chic environment along with state-of-the-art facilities and amenities. We believe Saifi Village II will be a landmark within the Beirut City Center that fully meets the expectations and living standards of our valued customer base in Lebanon."

Deyaar has already invested over $200m over the past four years in multiple projects within the Lebanese capital as well as the towns of Baabdat and Falougha. The company is actively looking for new opportunities to expand its presence in the country.

"Lebanon represents an important market for Deyaar outside the Gulf region. Deyaar is already an active international investor within Lebanon's real estate market and we look forward to further expand our presence here by continuing to explore new opportunities for partnerships and direct investments. Saifi Village II is the sixth project to be delivered by Deyaar in 2009 and we remain committed to our target of delivering seven projects in 2009," said Giebel.

Beirut City Center is a unique master development that seamlessly integrates business, leisure and residential developments in the same neighborhood to create a contemporary hub unlike any other in Beirut. The project is being developed by Solidere, Lebanon's leading master developer.

"Saifi Village II occupies a place of pride within Beirut City Center and is certain to become a landmark for residents and visitors of the district," said Mounir Douaidy, General Manager and Financial Director, Solidere. "As a trusted and leading international developer, Deyaar aptly embodies the excellence and quality that this beautiful master development stands for. We look forward to welcoming the new wave of Deyaar residents to Beirut City Center."

Situated in the prestigious downtown area, Saifi Village II comprises four blocks of ultra-chic 2-, 3-, 4- bedroom apartments and penthouses sitting amidst landscaped areas and gardens. In addition to the 72 residential units, the project also includes numerous retail units.

Amenities and facilities at the project include ample parking space, basement storage facilities, and 24 hours security.