Home Real estateMismatch made in the heavens

Mismatch made in the heavens

by Jeremy Arbid & Thomas Schellen

As cities go, Beirut has every reason to be regarded as the grand dame of regional urbanity — a proud dowager that stands out among Arab metropolises as queen of style and savoir vivre. But she is filling out like a high school senior, especially around the upper floors of the priciest residential towers. Those epitomes of luxury, construction of which began during the real estate boom five or six years ago, are now finally almost ready for delivery and provide a near full image of the skyline that the Lebanese will have to live with for generations to come. Whether they are individually perceived as top engineering and architectural accomplishments or mere misshapen tributes to greed, Beirut’s new towers perhaps more than anything illustrate two aspects of the Lebanese economy: the fact that property development is a vitally important activity for the country’s economic well being and the bipolar

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