New startups mall to open in Lebanon

New startups mall to open in Lebanon

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ECO101 Mall is a new shopping concept slated to open in Antelias in coming December. It is located behind Diwan Beirut.

 

The project is owned by Elie Massoud, a Lebanese businessman who originally founded Fizz Zone, a trampoline concept, which first opened in City Mall Dora.

 

“I came up with the ECO101 concept by checking the rental prices in various neighboring clusters and in Lebanese malls. I realized the price bracket was very high for a newly founded startup or restaurant taking into consideration the local market and the situation. Thus, I came up with this idea to offer startups the opportunity to get a low rental fee and to build a community,” Massoud said.

 

The mall stretches over two floors and has a 1,600 square meters of space. It includes 18 outlets, 20 F&B concepts, and a 250 square meter Fizz Zone kids area.

 

The name ECO101, reflect the eco-friendliness of the project, in terms of landscaping, solar panels, reuse of rain water for cleaning and irrigation. It also reflects the feasible prices for startups, and the new entrepreneurial approach for shopping and retail. “All women shops such as the hairdresser and the nail salons for instance have their own screens linked to the kids’ area, so mother can continuously supervise their children,” Massoud said.

 

Rents are USD 2,500 per month per F&B, and USD 1,250 per month per retail shop. Almost 85 percent of the spaces are already leased, Massoud said. Investment in the project is around USD 1 million, and Massoud has plans to open another one in the North, the South, and in Beirut also.

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