Lebanon's Hidden Treasure - March 2008
- Thursday, October 10, 2019
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The area of Lebanon is 10452 km2, the country has a sea shore front of 213 km on the Eastern Mediterranean periphery, this hidden treasure is expected to be exposed to higher demand in the near future.
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Against all odds, Lebanon is experiencing a convenient real estate uptrend market, in 2007 real estate operations have increased by 200% (fig 1), despite the political stagnation, Lebanese expats are acting as the major investors in the real estate market.
(Fig.1)
Gulf countries, Africa, Europe & North America Continent have hosted more than 2.2 million Lebanese in the past 20 years. Whereas 550,000 Lebanese expats currently are working in the Gulf countries only (Fig. 2), if 80% have transferred $1000/month to their families this sum up to 440 million $ per month which represent a part in the 1.8 billion U.S.D deposits in Lebanese banks in 2008.
(Fig. 2)
The major sector attracting Lebanese expats is property purchase and development especially in Beirut and its suburbs.
Major properties along the sea front have experienced more than 40% increase in prices in 2007, accompanied with an increase in prices of marine resorts units and the high demand compared to a shortage of available chalets & cabins.
Beirut water front have been developed by Solidere up to International standards stretching to the North; Coastal Maten’s Joseph Khoury Marina project is very promising with excellent returns. Keserwan coastal properties have been almost exploited or under study with rare purchase availability.
Jbeil have experienced a mass purchase process for most of its coastal front especially in Monsef. Amchit, Helweh & Berbara. Also Batroun sea front has been subject to many purchase operations especially from expats.
Major Mega marine projects are under study in the North basically in Anfeh & Dayr Al Natour area.
Lebanon's hidden treasure along its coastal properties should be governed by modern legislations and appropriate regulations to attract overseas & local investments; it should also enjoy an adequate public infrastructure and transportation network.
Good advice once was worth a camel, now that is free of charge, just take it.
Abdallah Hayek P.E
CEO
Hayek Group s.a.r.l
Beirut – March 2008
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