Believe in Lebanon - Oct. 2007
- Wednesday, October 09, 2019
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Those like us, who believe in Lebanon and its prosperous future, do not need to continue reading this article…
A country with so many contradictions and critical political crisis should definitely experience dramatic economical drop down in major sectors, when the parliament is not active and the government is under serious pressure and the presidency is experiencing major inconveniences, and the whole system is under siege of a severe political dispute. What should we expect?
Our concern is the real estate sector, this month Lebanon lost million of square meters of its green areas due to numerous brush fires ignited in many areas, mainly Andket, Kbayat in the North, Amchit in Jbeil, Dhour chouair,Salima in Maten, Kfar Amay & Dhour Al Abadiyeh in ALey, Deir Al Qamar and Beiteddine in Chouf up to Jezzine and Jarmak in the South, villages like Rechmaya had severe lose and damages. Despite of all, why prices of land are still heading upward?
The whole region from Iran, Iraq, Turkey and occupied Palestinians territories, had its own conflicts, add to this the terrorism & fanatic movements all over the region; they all had a direct or indirect effect on this country. Still prices are attractive to investors.
In our daily monitoring system of the real estate market, we have set an internal index, which lead us into major purchase activities, amounts, areas & categories regarding the type of properties and investors.
Most of the times we had difficulties to justify the trend of the activities of the market just like now. The real estate market, especially lands, is experiencing major activities not only in Beirut & Mount Lebanon as usual, but it is all over, from Bekaa valley to South & North Lebanon.
Sometimes, these activities are even justified by unconfirmed rumors like a U.S Military Base in the North, or an Olympic city in Mount Haramoun…
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Why investors are optimistic in the real estate market? Is it due to the affordable prices of the current market, or the higher cost of living in booming areas in the Gulf, or the situation of emerging markets in the region, without getting into the professional details or factors relevant to the Lebanese market trend, we simply agree with those who are not reluctant in purchasing properties in Lebanon, because first of all, they believe in the future of this country and the potential survival habit of its people. As we do believe too.
Abdallah Hayek P.E
CEO
Hayek Group s.a.rl
Beirut – Oct. 2007
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