Lebanon witnesses drop in construction activity

June 24, 2014 2:07 am

According to data by Lebanon’s Order of Engineers, the share of small-sized apartments rose to 48.81% of the total number of licensed residential units in 2013, The Daily Star has reported. Meanwhile, the number of construction permits for residential buildings dropped 10.81%, compared with the previous year. The data confirms earlier reports of a slowdown in the country’s real estate sector in 2013, in line with sluggish economic activity across all sectors, mainly due to the conflict in neighbouring Syria.