$67 million-headquarters for Credit Libanais in Adlieh

Bank's new HQ to be built to a green standard and will house all bank departments by 2014

Credit Libanais will launch its new group headquarters at Adlieh area in 2014. The new premises will cost an estimated $67 million. The project, developed by Man Enterprises, consists of two blocks. the tallest of the two buildings will be 31 stories.

According to Alain Hakim, assistant general manager at Credit Libanais, the "rocket-shaped" glass building will meet green construction standards. “The glass building will be insulated against heat, cold, and humidity, which will help reduce the usage of air conditioners and thus preserve the environment,” said Hakim. The new premises will house the management of all the banking group's departments and businesses. It will have parking spaces for up to 2,000 cars, a restaurant, a gym, and a children’s day care for working mothers.

Credit Libanais will also open a new branch in Tyre by mid-2012, at an estimated cost of $5 million.

The bank has a local network of 65 branches. The bank has foreign branches in Cyprus, Bahrain, and Iraq, a subsidiary in Senegal (Credit International), and a representative office in Montreal, Canada.

Credit Libanais is 65 percent owned by Egypt-based EFG Hermes Holding.

Reported by Abeer Darwiche