Real Estate articles

Cranes over Beirut

Cranes over Beirut

At any given time, Beirut’s skyline is a kaleidoscope of chaos. While the economy may be struggling, in the city center luxury developments rise up with mesmeric frequency. In a country where long-term urban planning is woefully lacking, dozens of skyscrapers emerge every year — towering over the city’s ancient buildings. We decided to capture

Behind Beirut’s newest luxury development

One of Beirut’s most ambitious residential tower developments, Damac Tower, has now reached ground level. United Arab Emirates-based luxury developer Damac Properties is behind the venture, and Executive sat down with Managing Director Ziad el-Chaar to discuss the project and the company. Can you tell us how many units in the Damac Tower have been

Planning your Lebanon property investments

For hundreds of years, land has been a refuge investment and much-preferred option to cash. The same is true today, as investors have had enough scares with financial market investments — stocks, securities, futures and, of course, the more toxic products that came to surface during the 2008 financial meltdown. Land, though the least liquid

Lebanon’s renaissance man

The enterprise of the Zard Abou Jaoude family is a self-declared attempt at renaissance, as per the very name of its cornerstone property development company, Renaissance Holding. It is a venture that aims to prosper through rebirthing the Lebanese village. At the heart of the tale is Georges Zard Abou Jaoude, an architect-banker and real

A buyer’s market

If you hear anyone cry wolf about demand in the Lebanese real estate market in 2013, rest assured that this is not the time to panic. The market is not exuberant, true, and demand is limited. But, overall, we are seeing a definite continuation of demand in the first quarter of 2013 from the end

Lending homeowners a hand

They are not actually new-new. They give banks smaller margins than they did in their previous incarnation. They are tightly controlled with very little to no wiggle room on interest rates for most of the duration of the loan.  Yet the central bank’s current offering of housing loan subsidies was met with tremendous enthusiasm at

Big bets on Smallville

When Lebanese businessman Nadim Fakhry drives from the offices of his family-owned real estate, construction and hospitality group in the UNESCO area of Beirut to his latest hospitality venture, he traverses a main business district on the rim of the Lebanese capital along the Corniche Mazraa artery. He passes outlets of every major bank, hundreds

Tripoli’s new plot of gold

Outside of Lebanon’s second largest city lie the foundations for what soon could be Tripoli’s newest suburb and a new way for banks to cash in on development opportunities. Zeitoun 1589 is a project owned by a company of the same name and currently managed by BlomInvest Bank, a unit of regional financial player, Blom

Signs of a UAE stock surge

The twin exchanges of the United Arab Emirates — Dubai Financial Market (DFM) and Abu Dhabi Exchange (ADX) — have had a positive start to 2013, particularly when compared to overall emerging markets trends. From the opening on January 2 until close on February 25, the MSCI Emerging Markets Index (MXEF) — the world’s most

A new way to finance luxury real estate

When times are challenging and it is not enough to call a development “unique” or “best ever” to see apartments, duplexes and villas “fly off the shelves like hot cakes” in the speak of silly marketing metaphors, one needs innovative ideas in order to sell out a development with the speed that makes competitors green