The Fate of the Syrian Pound

The use of the Syrian pound has only started in 1948 after the secession of Bank of Syria and Lebanon, which was providing a single common currency for both countries. (more…)

Harb: My draft bill is to prevent exodus of Christians -update

Lebanon Labor Minister Butros Harb defended on Friday his draft bill that calls for banning the sale of land between various Lebanese sects for 15 years.

“The real estate draft bill is reassure Lebanese Christians who believe there is a campaign to take over their property,” said Harb in an interview on Friday with MTV (more…)

Dubai property prices may continue to fall, report

Dubai property prices may drop for the next two years, extending a decline in the Arabian Gulf sheikhdom that’s already cut values by more than 60 percent since the 2008 peak.

Residential values may fall as much as 20 percent more by the end of 2012 if new homes are built as planned, (more…)

Citizens march to save Beirut’s architectural identity

Around 150 Lebanese men and women marched late Saturday in Beirut’s downtown area to pay homage to the memory of the old buildings and houses that used to represent Beirut’s heritage and protest against further destruction. (more…)

New $500 million residential development in Beirut

Beirut Terraces, a $500 million residential development situated in the heart of the capital was unveiled on Thursday in a ceremony which celebrated the commencement of the project’s construction. (more…)

Real estate market in Lebanon is booming

Lebanon’s real estate sector is enjoying a boom, with record levels of sales and high returns for investors, bankers and real estate officials and executives are reporting.
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Central Bank: Lebanon real-estate industry not a bubble

By Seda Sezer and Massoud A. Derhally

Growth in Lebanon’s real-estate market, which has helped to spur economic growth, is unlikely to create a housing bubble, the country’s central bank Vice Governor Saad Andary said.

“Out of each 100 dollars spent on property acquisition, not more than 16 to 18 dollars are financed by banks,” Andary said in an interview in Istanbul today. “The rest is hard cash, mainly from Lebanese from abroad. We have no fear from a housing bubble.” (more…)

Real estate sales up 41% in Lebanon

Real estate sales in Lebanon in the 1st quarter of 2010 are up 41 percent compared to the same period of 2009. In dollars the sales volume is slightly over $2 billion, according to figures released by the Directorate of Real Estate. (more…)

Building boom transforms heart of Beirut

Blocks of historic Ottoman-era buildings, once pocked by bullet holes, have been majestically restored, and new high-rise apartment towers