A real estate company based in Beirut has unveiled plans to build a man-made islands project which could even rival some of Dubai’s iconic investment developments.
Noor International has applied to the authorities in Lebanon to construct Cedar Island, described as a “universal investment project”.
Facing the Lebanese coast, the vast development will be in the shape of a Cedar tree and would take three to four years to complete if authorised, providing an offplan investment opportunity
The firm has already begun touting the project to international investment professionals and real estate funds.
Noor International chairman Dr Muhammad Saleh said more details of the scheme would be released after approval but mentioned the possible creation of 50,000 jobs linked to the scheme.
The firm said: “First negotiations are taking place with several companies in order to present the consultative services.”
Real estate firms who could be involved include marketing group British Homes Express Corporation.
Investment operators already listed as showing an interest included El Behbehani Group in Kuwait.
Types of homes listed as possible investment opportunities on the scheme’s website include apartments, villas and chalets.
Artists impressions of the project show a lush tree shaped island with a series of residential developments on each branch.
The overall effect is similar to some of Dubai’s most famous island real estate schemes, such as Palm Jumeirah and The World, built by Nakheel.