Banque Libano-Française (BLF) has purchased from the Kettaneh Group, a 2,500 m2 land plot (659 Medawar), at Charles Helou Avenue, one kilometer north of the Beirut Central District. The plot is currently occupied by Kettaneh’s show rooms and offices. The deal concerns the real estate which is behind the showrooms.

BLF plans to build a new headquarters for the organization, to consolidate a number of banking functions dispersed throughout various locations. The bank’s headquarters is currently in Hamra.

Parties to the transaction would not reveal the size of the deal. Experts estimate the value of the property at around $30 million.