Real Estate Development STUDIES
Destination Projects
Rachid Karami International Fair – Tripoli, Lebanon
Paragon was contracted for a regional market study and financial feasibility assessment of a proposed $230 million leisure project conceived over a 672,000 sqm land surrounding the Rachid Karami International Fair in Tripoli – Lebanon. Part of a call for DBOT proposals issued by the Municipality of Tripoli, the project comprised 15 elements of which a 200,000 sqm Theme Park, a 220,000 sqm Water Park, Themed Village Resorts stretching over 55,000 sqm, several hotels, a shopping arcade, and a destination city-center zone.
The Airport Mall
Paragon was commissioned to undertake an elaborate market and financial feasibility study for a 115,000 sqm MXD conceived around a multi-purpose business, shopping, leisure and lodging complex to be developed on 19,000 sqm of land within 5 minutes of Beirut International Airport. Aside from ample retail space, the project was to comprise an attraction zone featuring an iMax Theater, entertainment venues, upscale furnished apartments, an exhibition hall and a business center. Paragon's elaborate research included a 700-household survey. Sophisticated financial modeling was employed throughout.
Beirut Sports City
Paragon was engaged to assess the returns from a proposed expansion of the Beirut Sports City facilities to include further sports and leisure offerings on about 100,000 square meters of available land; The project aimed at relieving the Lebanese Government from annual contributions to Beirut Sports City through reviving the City’s premises. Alternatives studied included an exhibition center, circus / amusement park zone, further sports facilities alongside restaurants and light retail developments. Several financial scenarios and models were developed, among which a BOT option.
Marina City – La Marina Joseph Khoury – Dbayeh, Lebanon
Paragon was engaged by RUSD Investment Bank for a national market viability and financial feasibility study over a $350 million real estate, leisure, retail and hospitality project on Le Marina Joseph Khoury in Dbayeh, Lebanon. The study involved detailed market research on the hotel, furnished apartments, residential timeshare, office space and shopping centers in Lebanon, and concluded with financial projections in several probability and capitalization scenarios for all project elements and their possible combinations.
Developing 1 Million Sqm in Mussafah (Abu Dhabi)
Paragon was engaged by Al Qudra Holding to conduct a real estate and survey on Abu Dhabi city and the Mussafah area to determine the market viability and financial feasibility study of developing 1 million square meters of real estate in Mussafah, in line with contributing to Abu Dhabi city’s eastward expansion. The study concluded on an Investment Park comprising a large-scale town house development alongside a town mall, recreation zone, furnished flats, office buildings and a conference and exhibition center.
Smart Valley Business Park
Paragon was commissioned by Lebanese group Pharaon Holding to study the market viability of establishing a 21,000 sqm of office and retail complex in a key commercial zone of Beirut, recommend the most viable space program for the lower floors and determine the equilibrium ask price as well as the caliber of office space to be erected on the upper floors. The study entailed an elaborate lnd use survey mapping 12 different types of retail tenants and organizations throughout a 1-km radius surrounding the project site.
Tartous Mall
Paragon was engaged to assess total purchasing powers of the Tartous population and the potential catch rate for a 30,000 sqm development on the outskirts of Tartous City.
A Land-Use Survey of Beirut Central District
Paragon was engaged to gauge occupancy rates in Beirut’s Central District, and create a flexible database directory of the BCD real-estate plots, details of built-up and occupied spaces, BCD owners and tenants.
Real Estate Development in Budapest, Hungary
Paragon developed a sophisticated plug-and-play financial model linked to project development memorandum templates for REDPRO Hungary, a Lebanese company investing in the refurbishment and construction of various types of residential and commercial real estate projects across Hungary. Paragon contributed to the financial feasibility decision of several projects based on such modeling.
Design Criteria Manual for The Platinum Tower (Beirut)
Paragon created a database format for the Design Criteria Manual and Building Services Questionnaire aimed at assisting project managers of The Platinum Tower, one of Lebanon's landmark developments, in achieving a timely handover of apartments according to client specifications.