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Bank Profits Rise

BEIRUT: Bank of Beirut, one of the leading banks in Lebanon, recorded a net profit of $89 million in the first six months of 2015, an increase of 13.84 percent compared to the same period of 2014. Bank of Beirut is one of the few Lebanese banks that have achieved double digit profit despite the difficult economic conditions in the country and turmoil in …

Bargains in Beirut’s Real Estate

Last week, a group of economists, in a survey going by the rather ironic name of “The Lebanese Economic Outlook”, acknowledged the elephant that many of us have noticed sitting in the room for the past two years: namely that the local housing market and construction sector have been adversely affected by the economic slowdown and are unlikely to register any growth in the …

Beirut’s Memorial to Civil War

A beautiful apartment building that became a snipers’ nest has been preserved in Lebanon Source: The Ruined Apartment Building Becoming Beirut’s Memorial to Civil War

Apartment prices in Beirut

(BEIRUT, LEBANON) — Beirut-based real estate advisory firm RAMCO revealed the average sales prices of apartments under construction in Beirut vary between USD 2,088 and USD 7,000 per square meter. The BCD, the seafront stretch, and some neighborhoods in Ashrafieh are still the most expensive in Beirut. The central residential neighborhoods – from Bachoura to the North down towards Hamad and Rweiss in the …

Beirut the next hotspot?

Can Beirut become the next hotspot for real estate investment? Damac Properties have faith in former war-torn country A revolution is taking place in once war-torn Beirut. The Lebanese capital has seen its fair share of battles over the years, even being involuntarily brought into the conflict between Israel and Palestine. However, the city could now become a hotspot of interest for buyers seeking …

Bank of Beirut offers mortgage financing

The Wave, Muscat and Bank of Beirut recently signed an agreement to offer mortgage financing services on real estate purchases at Muscat’s waterfront community. Bank of Beirut will provide competitive and convenient home-financing plans for both local and foreign investors looking to purchase a residential property at The Wave, Muscat, while offering maximum flexibility and a variety of repayment options to meet the needs …

Beirut’s glitzy it seems?

Is Beirut’s glitzy downtown redevelopment all that it seems? Two decades after civil war blew the Lebanese capital to rubble, the city centre boasts immaculately rebuilt streets lined with Gucci and Prada stores – but the whole place is strangely deserted Glamorous young couples twiddle their cocktail stirrers on the terraces of Beirut’s Zaitunay Bay, looking out across a balmy evening scene that could …

Slump begins to hurt

Lebanon’s real estate developers are singing a different tune these days. Gone is the talk that residential property prices will never go down as three years of a slump are taking their toll. “We’re all having to discount, let’s not kid ourselves,” Nabil Sawabini, chairman of MENA Capital , tells Executive. How much are developers knocking off the price tag of a new home? …

Corrupt state employees

BEIRUT: Finance Minister Ali Hasan Khalil vowed Wednesday to pursue his anti-corruption drive in the real estate department and assured that the political immunity would be lifted on any official involved in illegal activity.Speaking at a news conference after visiting the Justice Palace, the minister said that he handed to the attorney general seven files pertaining to the illegal seizure of government-owned lands in …

Top city for investment?

BEIRUT: Lebanon is again on the radar of potential investors following a report carried by CNN Money that ranked Beirut among the best real estate investment destinations in the world on its list of “Up and Coming Cities For the Rich.” But this report, which was prepared by Savills World Research, Candy & Candy and Deutsche Asset & Wealth Management, received mixed reactions from …

Demand shifts to suburbs

BEIRUT: Lebanon’s real estate market has entered a slowdown phase, particularly in the capital, where developers are offering discounts of up to 15 percent on residential units under construction. However, on the outskirts of Beirut, investors can still profit from prices that are ascending, albeit at slower pace, mainly in the Metn and Baabda districts, industry experts told The Daily Star. “Despite a drop …

Luxury Residences

New York-based SOMA Architects has announced plans for an 11-story residential development in Beirut. Cantilevering over a protected 1920s house, “BOBO’s” steel exoskeleton and concrete core will support 13 new residences on top ground floor retail in the Lebanese capital’s Mar Mikhael district. “The challenges that were presented to our design by the necessity of keeping the façade of the house in place created …