New residential tower coming to Sursock

Development by Capstone and other investors

Capstone Investment Group is planning to build a residential tower in Ashrafieh's prestigious Sursock neighborhood. The 30-story building will offer medium-sized apartments of around 300 m2. Capstone and a group of other investors acquired a 2,400-square-meter plot for the project. The development is owned by B-One Cap, a company chaired by Ashrafieh MP Michel Pharaon.

“The orientation and integrative design of the tower will take into consideration the environment. There will be a particular focus on the use of building materials from renewable resources, in addition to the creation of at least 1,800 square meters of green areas and beautifully landscaped gardens around the tower to minimize the pollution effect of nowadays overcrowded neighborhoods,” said Philippe de Bustros, member of the Board of Directors of B-One Cap. “Having been raised in the Sursock neighborhood, my goal is to ensure that this incredible project will improve the standard of living for all stakeholders,” he said.

Ziad Maalouf, CEO of Capstone, said: “We are one of the investors among a group of high-net-worth Lebanese investors and we will also be in charge of developing the estate.”

The project’s construction will begin in six months and is expected to be completed in four years.

Apartments in the project will have a sea view starting from the lower floors. Maalouf said: “We decided to construct 300-square-meter apartments because of the growing demand for small to mid-sized apartments.”

Additional facilities include a rooftop swimming pool, a private lobby for each apartment, five underground parking levels, private storage area, a children's play area, a club house, and a fitness center. Around 1,800 square meters of green areas and landscaped gardens will be created around the tower.

The starting price per square meter is around $6,000. “We expect the project to sell out quickly because it has a good location,” said Maalouf. The tower will incorporate an existing traditional Ottoman-era house. Environment-friendly building materials will be used in the construction.