Lebanon’s real estate sector continues to attract major investors despite political and economic challenges, with the July 2009 edition of the Lebanon Real Estate Report pointing out that real estate sales value and construction permits achieved average growth rates of 17.6 per cent and 12.6 per cent, respectively, over the past five years. Further underscoring the country’s resiliency in the wake of the global financial crisis, real estate sales transactions in Lebanon has now almost stabilised in the first five months of 2009, while construction permits have posted a 4.3 per cent yearly increase.
UAE investors, in particular, are the most active in Lebanon; according to the latest Inter-Arab Investment Guarantee Corporation annual report, UAE investors have collectively invested USD 1.115 billion in Lebanon, representing 41.9 per cent of total Arab investments in the country in 2008.
Emaar Properties, a Dubai-based Public Joint Stock Company and one of the world’s largest real estate firms, and Renaissance Holdings, developers of landmark projects in Lebanon, have recently appointed BrandCentral, a leading strategy and design consultancy in the region, to develop the name, brand identity, a comprehensive design program and to create brand awareness for its flagship project in Lebanon.
“BeitMisk,” the new brand developed by BrandCentral for the project, draws inspiration from ongoing nationwide rebranding initiatives in Lebanon. BrandCentral also revealed that BeitMisk exemplifies the development project’s goal of redefining the lifestyle experience in Lebanon by offering a combination of modern and traditional elements