Complex Made Simple

Arabian Construction Company acquires Gefinor

Lebanese construction firm, Arabian Construction Co has acquired the Gefinor Centre office complex in the Clemenceau district of Ras Beirut for $100m, The Daily Star has reported. Built in 1969, the Gefinor Centre has 26,000 sq m of surface area for rent that include 21,000 sq m of office space. It currently has 90% occupancy, 40% of which are comprised of old leases. Its rental prices range between $300 and $400 per sq m.