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Market flux

by Executive Staff

The days that one would see groups of Syrian workers sitting on every street corner, drinking coffee and smoking cigarettes while waiting for a job, are long gone by. Since the assassination of former Prime Minister Rafic Hariri in 2005, Syrians have generally proven more reluctant to try their luck across the border, as many Lebanese blame Syria for the string of political killings that shook the country in recent years. It is estimated that following the murder of “Mr. Lebanon,” some 30 Syrians were killed in random attacks. Meanwhile, Lebanon’s construction and real estate market is booming across the board. Nearly everywhere in Beirut, buildings are bought up, emptied and demolished to make way for yet another new apartment block. With less Syrian workers around while demand is soaring, labor cost has witnessed a significant increase in recent years. According to a Lebanese contractor from eastern Beirut, who preferred

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