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Lebanon » Market Report
The Middle East and Africa, right before Tel Aviv, Dubai, Istanbul and Johannesburg. In last year’s survey, Beirut was the 28th most expensive city worldwide and the second most expensive in the region.
Real estate in Lebanon went through very different phases. In the early nineties the sector was pushing the whole economy with extensive reconstruction programs, and buildings were erected all over the country. 
Real Estate is shifting from a family owned business to a professionally run one. The best example is that investors are now conducting surveys and market researches before they start building. This was not the case a few years ago. Another positive sign is the return of international investors to Beirut Central District. Virgin, Ericsson, and almost all the leading financial institutions of the country have established their Head or Regional offices in this area. And the huge effort that has been consented by the country to re-attract investors is about to give its fruits.
This success is not so surprising, Lebanon has many advantages for large corporations. The geographic situation makes it a privilege gateway to all the Arab countries, and the Lebanese way of life is more attractive for European than the one that can be enjoyed in other neighbouring countries. On top of this, the banking laws can be considered as a plus for foreign companies willing to expand their activities in the region.
International Property Brokers forecast that real GDP of the Lebanon will range 4.6% to 3.1% in 2009. Many capitalist including various private enterprises in Lebanon are seeking the economic importance in the construction business. This will bring a real estate property market boom in the reign. International Property Brokers also forecast that the future can be seen with optimism as many important projects are still on an ascendant phase. In Beirut Central District a "chain reaction" can be expected, the more companies and governmental institution will be established there, the more attractive the district will be for the others. |
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