Beirut Souks reaches
85 percent occupancy

More than 140 stores to be ready by end of October

Solidere’s Beirut Souks is preparing to launch a grand opening in the fourth quarter of 2024 as existing and new retail and food and beverage (F&B) brands are gradually opening their outlets in the shopping mall. It had been severely damaged in the Port Explosion of 2020, and until recently, only a few stores were open. It was first inaugurated in 2009.

Occupancy rate is expected to reach 85 percent by October, said Adib Al Nakib, General Manager of Beirut Souks. He said they have signed contracts with 114 brands and are in talks with another 20 which include two international F&B outlets (a restaurant and a chocolate and ice cream parlor) that will open for the first time in Lebanon and exclusively in Beirut Souks.

“We consider that we have full occupancy because we have deliberately left 10-15 percent of premises vacant in order to attract important international brands currently reluctant to enter the local market. We have a big waiting list,” Al Nakib said.

The Gross Leasable Area (GLA) of Beirut Souks is approximately 60,000 square meters.

The businesses that are currently open total 53 and comprise 34 retail shops, seven jewelry shops, and nine F&B outlets. More than 90 spaces are undergoing refurbishment and fit-out work including 47 retail shops and 17 F&B outlets. They are gradually opening until the end of October. “We have amended our tenant mix by increasing the share of F&B and entertainment outlets from 10-12 percent to 38 percent because malls have become a lifestyle destination,” Al Nakib said.

Around 80 percent of offices in Beirut Souks are rented. “We leave 20 percent of offices vacant on purpose in order to attract international companies,” he said.

In order to increase footfall, Beirut Souks has diversified the types of outlets in each of its corridors, which are named after the old souks of the locality like Souk el Tawileh, instead of having specialized corridors that only cater to a specific market segment. The mall’s parking lot has a 2,000-car capacity.

Around eight percent of the brands will enter the local market for the first time. They include Nike Town, fashion brands ALO and The Giving Movement, French restaurant and nightclub Raspoutine, and Azadea Group’s Zara Café and Zara store. Al Nakib said these top brands have outlets only in major markets like USA, Europe, and GCC countries and will have their premises exclusively in Beirut Souks. Zara store will be as large as its namesake in Dubai. He said: “The brands mainly range from affordable to bridge brands. The aim is to attract a broad segment of customers of all income levels.” Bridge brands are high-end brands that are not as expensive as ultimate luxury brands.

The new hospitality and entertainment brands in the mall include Beit Sara, Chill Ville, Coffee Lab, Crepaway, Des Choux et Des Idées, Dip n Dip, Dunkin’ Donuts, Lézard Noir, Market, OBI Urban Sushi, Patchi Café, Poptastic, Sables Gourmet, Salted, Socrate, and Sour Dough.

The new sports and fitness outlets are Adidas, EA7, Reebok, Maison Fit Youth, Skechers, Sports Experts, and The Spurt Lab. Other new openings include Crazy Candy, Hublot, Le Concept, L’Occitane, Muftah el Chark, My Monty, Out of the Box, Salamoun Jewelry, Virgin, and Yves Rocher.

Beirut Souks is promoting its return to business through social media platforms.