$208M Hotel in Beirut To Offer 250 Jobs
Nabil Itani, chairman of the Investment Development Authority of Lebanon (IDAL) offered a 10-year incentive package deal to a $208 million hotel project owned by Sabah Barakat, general manager of Al Bashoura Company.
“The five star hotel which is expected to create 250 job opportunities “will give a further boost to Lebanon’s tourism industry,” Itani said.
He added that tourism contributes to 10 percent of Lebanon’s GDP, and provides job opportunities to about 9.5 percent of the total workforce in the country .
“Tourism is expected to attain growth of 4.5 percent in 2012,” Itani said.
The hotel, which is to be located in Downtown Beirut, will comprise 153 rooms, 62 suites and 35 furnished apartments.
The project is to be exempted from income taxes for the upcoming ten years. Construction fees will also be reduced by 50 percent.
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