A source from the company told Businessnews that approximately 120 to 130 units have been sold. The sold units were either townhouses or apartments as developers have not started building villas yet.

The company will start delivering units to their buyers starting December 2012 when construction of the two phases is completed.

Prices of apartments ranged from $300,000 and above, said the source who refused to unveil prices of townhouses which “cost much more than apartments.” The price of each unit is set according to its location.

The company said that demand from Lebanese for Beit Misk project units was high. Local buyers purchased nearly 85 percent of the total supplied units. “The high demand from locals was spearheaded by the stability and booming economic activity,” the company said.

The project will cover an area of 655,000 when it is finalized. It is developed by Emaar Lebanon, a subsidiary of UAE’s Emaar. Construction of the project is financed by chairman of the Lebanese Canadian Bank (LCB) - Georges Zard Abou Jaoude, who is Renaissance Holding’s major shareholder. LCB will finance 40 percent of the project.