The crème of ‘concretization’

ENAR

“[For the real estate market overall], 2012 was one of the most difficult years since 2005. People are used to ups and downs in this country and have learned to disassociate the political developments from real estate. However, we felt that the recession in the sector was the harshest in a long time, and the harshest on many fronts. Capstone is a different story. We just recently closed a very big deal in real estate, probably the biggest deal in the market in many years. We purchased a plot of 2,500 square meters in a very prime location of Beirut: Sursock, Ashrafieh. Capital in this transaction was two times oversubscribed. This story tells you that there is still appetite in the market for a good product where investors can go in not for the short term but the long term, four or five years. People have hope for the future.”