The successful New Year’s Eve party in Downtown Beirut, which attracted almost 50,000 people, triggered public authorities and the Speaker of the Parliament, Nabih Berri, to open the access to Nejmeh Square again for pedestrians.
This is the first attempt to re-open the heart of the city to the public ending the rigid security measures that were implemented for a long time in Nejmeh Square.
This initiative is a good indication to hundreds of retailers and F&B operators who were forced to shut down their properties due to very low footfall throughout the past years.
This decision is a very positive attempt to revive Downtown Beirut, Tony Ramy, president of the Syndicate of Owners of Restaurants, Cafes, Night Clubs & Pastries in Lebanon, told Hospitality News.
But according to him, the international labels that crowded the area between 2000 and 2005 new incentives to motivate them to come back.
“Incentives start with new leasing contracts that should come with no less than two years of grace period at least.” He continued: “The Central Bank, in collaboration with Solidere and the Syndicate, must agree on allocating to restaurant investors new subsidized loans with low interest rates that do not exceed one percent. We should also set a whole new strategy and vision to revive the Downtown area. Such conditions would appeal to big brands and drive the reinvestment wave.”Add to Favorites