DOHA - The Cedars Island, a project inspired by the Phoenician legacy, is being developed in Lebanon. The project, which will cover an area of 3.3 million square metres along the Lebanese coast, was announced recently.

Dr Mohammed Saleh, Chairman of Noor International Holding, has announced that the ideal time has come to reveal ‘The Cedars Island’ since economists are optimistic that Lebanon will be able to avoid the adverse impact of the far-reaching world economic crisis with the peace conquering the region and the global financial turmoil stopping at the Lebanese borders.

“It is the right time to attract the 12 to 16 million Lebanese immigrants back home, in addition to wooing tourists and worldwide investors,” Saleh said.

After getting final approval from the Investment Development Authority of Lebanon, the early phases of construction of the key project will be finalised within four years. This unique symbol Island which represents the Lebanese heritage since times immemorial has attracted wide-ranging investors from the Levant Region, Gulf Countries, America, Europe and Australia.

The $8.2bn project will house around 69,000 residents, boasting 300 lavish villas, 16,000 deluxe apartments, 4,500 hotel suites and over 20 restaurants.

The site of the project being off the Lebanese western coast of Damour, the island will be ideally located to magnetise visitors and select inhabitants who are seeking a paradise sanctuary away from today’s chaotic urban life.