Recently, the iconic Virgin Megastore in Downtown Beirut
closed and moved to ABC Verdun
. According to
, the company decided to operate only in malls. The former Minister Marwan Kheireddine is the major shareholder of Virgin Megastore in Lebanon. He said that people prefer going to shopping centers instead of retail streets. Also, the shopping trend changed: people are streaming music and watching movies online rather than buying CDs and DVDs. The high operational costs of Virgin Megastore’s branch at the Opera House building were challenging. The rent costs $1 million. The business slowed down in the area due to construction work and roadblocks. For a long time, barriers and obstacles around the Nejmeh Square’s different entrances prevented pedestrians and drivers from going there. Stores and restaurants in the area were negatively impacted. Many retailers closed down their shops. However, people have access to the square again! Beirut will be celebrating the square’s reopening this Sunday! Make sure to attend the
!
