Published on 09 November 2005 at 02:13 pm
Filed under: Middle East:- Lebanon Property Guides » Lebanon Real Estate Investment Guide
Nowhere in the world is a country more committed to rebuilding and regenerating its economic fortunes than Lebanon. Once home to an incredibly attractive and successful real estate sector Lebanon is once again attracting international interest to its re-emerging property market.
Ravaged by war between 1975 and 1990 Lebanon saw national output fall by half and the country’s beautiful and ancient cities like Beirut and Tripoli all but destroyed. Now the amount of investment flooding Lebanon to rebuild the country is incredible, and the real estate investment opportunities emerging from this Middle Eastern, Mediterranean facing country are breathtaking.
Lebanon may not be high on a property investors list of emerging countries to consider but careful consideration should actually be given to Lebanon because of the focused and targeted investment that is being ploughed particularly into the regeneration of Beirut and because the Lebanese government are committed to the economic empowerment of their country through the attraction and retention of foreign investment.
The reconstruction of Beirut Central District or ‘Downtown’ as it is known has become the focus of the Beirut government empowered private development corporation Solidere who have secured massive investment from companies in countries throughout the Middle Eastern region.
The company have plans in place for the complete restoration, reconstruction and redevelopment of a massive area of central Beirut to transform it into a 24 hour a day vibrant and lively city centre complete with a massive business district, extensive retail and residential areas, open spaces, the development of the waterfront area and the transformation of damaged buildings and monuments to their former glory.
The vision for Beirut is the creation of a first class city which is a centre for international business, a hub for international tourism focus and a residential haven. And such is the confidence in Solidere’s vision for Beirut that the subsidiary company of the Dubai Islamic Bank DEYAAR have committed substantial investment for the development of a series of apartment and villa complexes in Beirut for example, and those that have been released already have sold out off plan.
Investment into the regeneration of Lebanon is not restricted to Beirut, but because Beirut is the capital of Lebanon this is where the majority of business takes place, where most international businesses seeking a regional hub are relocating and where the first substantial amounts of foreign investment are being made. Therefore Beirut is quite possibly the first place a property investor targeting Lebanon will find potential for profits from rental income and asset capital appreciation.
Middle East:- Lebanon Property Reports
Complete listing of all current property reports for region: Middle East:- Lebanon
