Lebanon’s real estate sector adapting to shortage of foreign investment

August 20, 2014 2:49 am

Elie Souma, head of the Lebanese Association of Real Estate Trade and Development said that Lebanon’s real estate and construction sector is adapting to the shortage of foreign investment, shifting its focus to Mount Lebanon and Beirut’s suburbs to meet a growing local demand, The Daily Star reported. He added, “Construction in Beirut is relatively stagnant when compared with other regions in the country.” While the country as a whole saw a 2.7% increase in construction permits in the first half of the year compared with the previous year, Beirut had the lowest number of any of the country’s regions, according to the Order of Engineers in Beirut and Tripoli.