Lebanon Opportunities – August 2019

O

utlets on Uruguay Street, in Beirut
Central District, have reopened.
The nightlife destination, which has
been almost entirely closed since 2016, has
reopened for business. Nine pubs and bars
have opened on the street and performance
is expected to boom for the rest of the
summer season.

NIGHTLIFE HUB
District Developers, chaired by Hassan
Dergham, has obtained investment rights
from Solidere to renovate and operate the
street outlets for seven years. The Uruguay
Street concept was first developed by
Venture Group, a hospitality management
company co-founded by Rabih Saba and
Marwan Ayoub. At its peak, the street
featured 30 pubs and restaurants. So far,
nine pubs and bars have opened on the
street, and more are to come. “Uruguay
street has had its glory days as a nightlife

concept from the others, according to Fares.

The latter has invested $300,000 in his

two pubs on Uruguay Street. Antonios has

invested around $100,000 in Mojito, which

has the capacity to seat 50 people. Duval’s

owners have invested $250,000 in the

80-seater pub. Pub owners expect to return

their investment in between one and two

years, depending on the country’s security

situation. “We have high expectations for

the area because it is far from the residential

areas,” Fares said. Fares owns a pub in Mar

Mikhael, but he receives complaints from

residents regarding the loud music.

HIGH HOPES

Pubs on Uruguay Street serve food and

alcohol. U Lounge Bar offers pizzas, burgers,

and nachos with alcohol with an average

check of $20. Casa de Uruguay offers sushi

with alcoholic drinks with an average check

of $25 per adult. The average check at Mojito

is $20. Activity is still sluggish so far, but pub

owners expect that it will improve starting

from late August. “Customers usually head

towards beach bars and rooftops in the

summer,” Antonios said. Mojito, which opens

seven days a week, is not fully occupied. “We

expect the performance to improve in fall,

especially during weekdays, as a lot of people

visit the pubs after work,” he said. At the end

of the summer season, university students

will come back to the capital, and people

who are travelling will also come back. “The

pubs will be full,” Daouk said. The audiences

attending the pubs are currently people who

want to explore the pub and the area, and sit

for a short time. “We are targeting the age

bracket of 27 and above who come and sit for

a longer time,” Daouk said.

Reported by Rania Ghanem

destination. We were pretty sure that

the area will prosper again rapidly,” said

Georges Antonios, owner of Mojito, a bar

on the street. “Uruguay Street has a prime

location in Downtown. The street gained

fame in its short history before it closed,”

said Ihab Daouk, Partner at Duval. The

group of investors that have opened on

Uruguay Street has encouraged some pub

owners to come to the area. “Most of the pub

owners are professional and have significant

experience in nightlife,” said Raoul Fares,

owner of the newly opened Casa de Uruguay,

and U Lounge Bar.

DOLLARS SPENT

District Developers has invested up to $5

million on the renovation and development

of the pubs, said Dergham. The owners’

investments varied depending on the

capacity and interior of each pub. Each of the

pubs has a special identity and varies in its

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LEBANON OPPORTUNITIES, AUGUST 2019 55

Uruguay Street comes back to life

High expectations for the winter season

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