The MENA region is seeing an explosion in the construction of office blocs. Without exception there is a strong demand for high grade office blocs throughout the region. Where Grade A office blocs have been constructed occupancy rates are 98% or above. In the Gulf, the explosion of office construction is on such a scale that some are concerned about an eventual oversupply despite the current strong demand. In the Levant demand is also strong. Beirut The residential and retail sectors are currently seen as booming in Lebanon, but office construction as, Elias Harb, owner of Real Estate Magazine, told Executive is “non-apparent”. The existing stock of office space in Lebanon, is inadequate, as most of it is old and of an inadequate size. The reason for this, Harb explained, is because most people who built office buildings in Lebanon, built them for their own use and to their own
