June 15, 2011- Beirut Waterfront Development (BWD), a joint venture between Lebanese developer Solidere and Stow Waterfront, has announced the launch of Zaitunay Bay, a large-scale tourism project.

The project, designed by renowned expert Steven Holl in collaboration with Lebanese architect Nabil Gholam, comprises residential, commercial and recreational facilities.

Once ready, the project will boast of around 12,000 square meters of fully-serviced, furnished units for sale, said Stow Waterfront. There will also be an 800-member yacht club and a health and fitness center, in addition to 9,000 square meters of commercial areas.

Stow is an international property investment, development and management company with operations in the UK and the Middle East. Its Beirut-based team has a regional Middle East mandate with a focus and strength in Lebanon.

Stow is best known for Marina Towers, its landmark tower development on Beirut's waterfront.

Speaking at the launch, BWD chairman Farouk Kamal said: “Through this ambitious project, Lebanon will have a new touristic destination, creating new jobs and bolstering the economy," he said.

On the project opening date, Kamal said the “first skillets of the restaurants that will be featured on Zaitunay Bay are due to start sizzling by September."

Source: TradeArabia