The five-storey retail building had been designed in conjunction with Samir Khairallah & Partners, and includes retail and residential spaces.
Firefighters have been able to bring the blaze under control, which mostly affected the exterior of the building. Mobile phone footage shows flames wrapping around the side of the building and debris falling to the ground.
Michel Al-Murr, first lieutenant of the Beirut Fire Brigade, told Arab News that “the fire was large, but the firefighters were quick to respond and were able to bring it under control, preventing it from spreading further.”
The fire is the second in a week to break out in Beirut, after a blaze consumed a warehouse in the city's port. It is little over a month since the devastating explosion at the city's port that killed around 190 people and injured 6,000 more.
The Hadid building had been designed by the late architect and was nearing completion when the fire broke out.