Real Estate articles

(De)sign of the times

“We gradually noticed a few abandoned commercial venues being renovated and then new tenants moving in. They were mainly little boutiques owned by young adults and at first we felt a sense of pride that people were recognizing our neighborhood as a place for creative business activities but now, with all the bars and the

The coast of progress

As activists push ahead with a lawsuit to prevent the development of nearly 110,000 square meters of coastal land to the south of Beirut’s iconic Pigeon Rocks, Fahd Hariri — the son of late Prime Minister Rafic Hariri who has a stake in an investment company which indirectly owns some of the land — is

Achour-ed success

Even with the smell of untreated wastewater wafting into the air and urban waste effluents annoying bathers in the sea, the property shown on the Beirut cadastral map only as land parcel 3689 was clearly valuable. Real estate developer Wissam Achour must have seen these 5,188 square meters of sandy beach at the southern edge

The house of culture

As in all historic cities across the globe, there are certain architectural structures in Beirut, such as the Egg in downtown or the old Manara in Ain El Mraisseh, that have become landmarks and a major part of the Lebanese collective memory. Even as the city progresses and develops, these buildings should be preserved, in

Impending calamity

After over a decade of debate — and severe hiccups in 2014 — a law annulling the “old rent” system, whereby tenants who signed leases before 1992 never faced rent increases, gained parliamentary approval and in June was published in the Official Gazette. The Constitutional Council, however, struck down two and a half articles in

Building for demand

With the Lebanese real estate market remaining stagnant again in 2014, Executive sat down with Jihad Ibrahim, general manager of Jamil Ibrahim Establishment, to discuss ways to better regulate the sector and how to improve statistics related to real estate transactions, which he says today are misleading.    We’re seeing a lot of newly built

A work in progress

Bilal Hamad, president of the Beirut Municipality, talks with Executive about parks, sidewalk renovations, the city budget and the increasing number of revenue-generating towers within the city limits.    Back in 2012, you launched the “Beirut is Amazing” project aimed at adding and improving green spaces in the city. How much are park renovations going

Empty towers

Seven years ago if you went out at night and looked at some of the newer residential buildings completed in Beirut, you would notice that many of the flats were dark. At that time, the explanation was that the owners were either foreigners or Lebanese expatriates who only use the apartments for a few weeks

The slump begins to hurt

Lebanon’s real estate developers are singing a different tune these days. Gone is the talk that residential property prices will never go down as three years of a slump are taking their toll. “We’re all having to discount, let’s not kid ourselves,” Nabil Sawabini, chairman of MENA Capital, tells Executive. How much are developers knocking