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Developers move ahead with Lebanon's Sannine Zenith project
Source: BI-ME; Daily Star , Author: BI-ME staff
Posted: Sun May 15, 2005 12:00 am
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LEBANON. Plans to build a US$1 billion ski resort on Lebanon's Sannine mountain range have not been affected by the unraveling of Lebanon's delicate political fabric over recent months, with developers telling The Daily Star that excavation work on the mammoth project could begin as earlier as this Summer.

Sannine Zenith mountain resort, expected to be the largest tourism project the country has ever seen, will have a final master plan by the end of May, according to company CEO Tony Abi Rached. Notwithstanding any future political earthquakes, this means crews will get to work on the 50 million square metre phase one of the project in a matter of weeks or months.

"If you leave it to me, I want to lay the cornerstone this Summer," Abi Rached said in an interview, warning however that no final date would be set until after legislative elections, expected to take place between late May and early June.

"I think it will be positive," he added, in a reference to the crucial poll, the first to be held free from Syrian dominance in the country in over three decades.

"I am very optimistic about this country," Abi Rached said. "This project is going to boost the economy," he explained, claiming Sannine Zenith would employ up to 15,000 people at its peak stage of development during the next 7-10 years.

Sannine Zenith has hired Canada-based Ecosign Mountain Developers, a firm that is working on slopes for the 2010 Olympic games in Whistler, to execute the master plan which originally encompassed some 96 million square metres, or approximately 1% of Lebanon's total area.

But Abi Rached has since split the project into three phases, with 72 million square metres now being the target of construction over the next 10-15 years. Sannine Zenith should be able to accommodate 22,000 skiers by the end of phase two, far beyond the capacity of Lebanon's most popular ski resort, Faraya Mzar, with a capacity of 5,000 skiers.

The plan will create four resort villages connected by cable car gondolas at the end of phase one. But skiers will begin hitting Zenith's slopes four years from the start of construction.

The developers behind Sannine Zenith faced a series of controversies last year when attempting to register the massive land area with local authorities, amid allegations that the project was owned by Saudi investors in contravention of local property laws. But the deed was finally approved by Zahle authorities last year after the Sannine Zenith's Chairman reportedly bought out a Saudi investor for 99% of the venture.

 

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