Meet the megas

The confidence many developers have in the Lebanese real estate market is certainly not inspired by the numbers. On paper 2015 and 2016 look like the two worst years since 2007, yet this year and last have seen the launch of a handful of large-scale residential projects – one of which is the largest development in the country’s history and will easily clear the $1 billion mark. Missing metrics The first seven months of 2016 saw slight growth (2.62 percent) in the number of real estate transactions (which include the sale of land and built property as well as inheritances) compared to the same period of 2015, according to BlomInvest Bank. Looking back a bit further, however, the situation looks more dire. Compared to the first seven months of 2014, 2013 and 2012, transactions are down by 13, 11 and 15 percent, respectively, for January-July 2016, BlomInvest reports. Additionally, 2015