Real estate articles

Outsourcing business maintenance

Outsourcing business maintenance

It is all fun and games until one tenant in the building goes rogue and decides not to pay allotted monthly fees, another wants to butt heads over details, and a third does not show anyone their purchase receipts. Chances are you have been there, or heard the horror stories. In Lebanon, many problems among

The untouchable hotel

While it is widely assumed that Lebanon’s real estate business is rife with unethical dealings, only a few detailed examples of wrongdoing actually come to light. In the case of Eden Bay, a resort situated along Ramlet al-Baida—Beirut’s last public beach—evidence of violations and fraud piled up throughout 2017. The disclosures culminated in the form

No stimulus, no problem

Since 2013, Banque du Liban (BDL), Lebanon’s central bank, has announced over $6 billion in annual stimulus packages to prop up the country’s faltering economy. A range of sectors, from energy to education, have benefited from stimulus-facilitated credit, but none more so than the real estate market. Year after year, property developers and consumers have

A lifeline for heritage out of thin air?

Each year, a new series of coffee-table books feeds Lebanon’s nostalgia with vintage photographs and cityscapes that celebrate the country’s rich architectural past. Today, the old Lebanon survives through a dwindling number of heritage buildings, now barely unrecognizable compared to the images of the city when in bygone decades. Having survived the war, the remaining

You can build it, but will they come?

Amid plots of unsold, multi-million dollar reclaimed land, on what was 30 years ago an uncontrolled garbage mountain rising from the sea, Downtown Beirut now features more completed buildings than cranes. However, the Beirut Central District (BCD) has been hit hard by stagnation in the real estate market that began in 2011. While projects launched

A long time since the boom

Going into 2017, real estate stakeholders were riding a wave of optimism spurred by the end of a nearly three-year presidential vacuum and the formation of a unity government. After several years of market stagnation, developers willed themselves to believe that consumer confidence would be restored and residency uptake would finally resume. Buyers were also

Passion and profit in Lebanon

Carlos Ghosn, who is Brazilian-Lebanese, is the chairman and chief executive of the French automotive group Renault, chairman and chief executive officer of the Nissan-Renault Alliance, and chairman of the board at Nissan Motor Corporation. During a recent visit to Lebanon, he participated in the launch of a real-estate project that will be based in

The real estate bubble has burst

In the absence of hard data, anecdotes and speculation become the basis of analysis. Take, for example, the question of whether or not there is a real estate bubble in Lebanon. From the results of a Google search for the terms “Lebanon real estate bubble,” the sector seems like it is in real trouble. The

The view from Beirut

All of the figures revealed by RAMCO’s research department confirm a slump in Beirut’s real estate market. A finer analysis of these figures yields some hopeful – and other more worrying – conclusions. Actual drops are higher than recorded The RAMCO price index, published for the third consecutive year earlier in 2016, reveals two years

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