Real Estate articles

Structural rehab

Structural rehab

The Beirut cityscape is dotted — and often blotted — by rundown skeletons of abandoned sites — industrial warehouses, storage depots, schools, etc. Whether the remnants of former industrial sites destroyed during the civil war or warehouses replaced by larger and cheaper alternatives outside the city’s municipal borders, these are buildings often made of crude

Making the most of a bad market

Investing in a tight market is never easy. Choosing the correct product, paying the correct price, renting at the correct value, building the correct typology: these are much more crucial to achieve in a stagnating market than they are in a booming market. A slow market does not forgive mistakes of judgment. Sitting on the

Sayfco’s foundations for success

Chahe Yerevanian, the chairman and chief executive of real estate company Sayfco Holding, is clearly comfortable in his capitalist boots. He has no reason not to be, since he owns 50 percent of a company that by his own estimate is worth about $350 million and has accrued $40 million in net profits over the

‘Without infrastructure, real estate is nothing’

Sayfco CEO Chahe Yerevanian runs among the country's most successful real estate firms. Executive sat with him to discuss the company's long-term strategy, Syrian refugees and the government's role in the Lebanese real estate sector.   You have told us that your company has achieved development of 14 projects in a three-year cycle that started

‘I am tired of Solidere’s critics’

The Beirut Central District is advancing but the company in charge of its development is suffering under the economy and under verbal abuse. Solidere’s general manager Mounir Douaidy talks about the state of affairs after the precipitous drop in sales and profits.    Solidere has been in a down cycle on land sales and in

Downtown and out

At long last, Beirut’s urban experience may finally be ready for visitor masses.  Two projects — an entertainment center fitted with a multiplex cinema and a department store — are slated for completion at year-end 2013 and 2015, respectively. The entertainment center will go into business “in October or November; in any case before the

Turning heritage into profit

A short walk in practically any area in Beirut — be it Hamra, Gemmayze, Zuqaq Al Blat or Ashrafieh — leaves one in awe at the neck-breaking speed at which Beirut’s urban structure is changing. High rises cast shadows on what is left of buildings dating back to the French and Ottoman mandate, and even

Beirut must develop horizontally

Beirut is a growing city. It extends well beyond its official municipal borders, and there is pressure for it to spread even farther. The need to accommodate young families and individuals demands a wholesome living environment, and so does the future of Beirut and its property sector. Planners, developers and real estate professionals have urgent

Suburbia on the sea

The vistas around Beirut’s northern gates are changing. For years, the expanse of seaside development in the Dbayeh township was an empty promise of a coming suburbia.  Although much of the area remains as vacant as ever — equipped with just an upscale marina and convention hall — the land-filled seafront district has started to

Beirut’s ghost town

Maarad Street hasn’t looked this vacant since 2000. Here, in restored downtown Beirut, is where luxury retail, dining and living should meet. At lunch time, the roads should be filled with business executives from multinational companies taking their guests out for a bite. But a reality check in June reveals shy footfalls for the upscale