BCD property prices stay on the rise

Despite the political turmoil of 2005, Lebanon’s real estate sector saw activity and prices remain relatively stable. Solidere sold more land than ever before and both Gulf Arabs and Lebanese nationals continued to invest in hot properties. The Beirut Central District remained (and still remains) the axis around which everything else revolves, and experts predict the short term can only get better. According to the Lebanese Order of Architects and Engineers, the number of construction permits and overall construction experienced a dip compared to 2004 levels. By November 1, 2005, 9482 permits had been granted for a total construction area of 5,839,354m2, while for the whole of 2004, 11,258 permits were granted for a total area of 7,719,348m2. About half of all permits were issued in Mount Lebanon (4,657), followed by south Lebanon (1888), Nabatiyeh (930), Beirut (913), the Bekaa (799), and the north (295). In terms of space in