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Three Million Sqm Real Estate Projects in Downtown Beirut

A total of 403 development projects representing about 3.2 million square meters of built-up area were at various stages of development in the Beirut Central District as of end-March 2012.

272 projects have been completed, 51 are under study, 40 are under construction, 13 are awaiting permits, 13 awaiting submission, eight are inactive and six are under restoration, mentioned Solidere, the Lebanese Company for the Development and Reconstruction of the Beirut Central District.

 

 Also, the projects completed represent 1.4 million square meters of built-up area and account for 42.7% of the total; those under study cover 925,018 sqm; projects await- ing submission total 395,834 sqm, projects under construction total 341,562 sqm; projects awaiting permit reached 153,573 sqm; while inactive projects represent 20,128 sqm and projects being restored consist of 12,543 sqm.h-on-month. The Consumer Price Index grew by 4% year-on-year in March 2012 and by 3.4% year-on-year in February 2012.

 

Source: Lebanon This Week, Byblos Bank economic publication

Photo: Ruber Dragon

 

Beirut

Migration to cities is increasing so much that, by 2050, the UN predicts that approximately two thirds of the world’s population will be living in cities.

ECO INITIATIVES

  • A fundraising event, entitled Think Green, will be held by Zero Waste ACT for all its business members on September, 10,2013, at WHITE, Dora.
  • The Green Mind Association invited all Green Mind Award Participants, finalists, runner ups and winners to the GREEN MIND DAY on  Jan-16-2013 in Beirut, to create a platform where interested Venture Capital and Potential Investors met with participants.
  • A green initiative launched by Ashrafieh 2020 project aims to transform Ashrafieh into a tranquil and unpolluted area.Green spaces allow residents to walk and ride bicycles.

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