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Overseas Property Investors Beirut Could Be The Answer To Your Dreams
Once known as the city of celebration and culture in the Middle East, Lebanon’s capital, Beirut, is now the place foreign property investors turn to. The image etched in the minds of Europeans, for example, is that of a war-torn Beirut. Now is the time to reflect because the region now offers great prospects for real estate investors. Low real estate prices in Beirut, combined with new foreign investment, make it a good place to invest.
Beirut the capital.
Beirut benefits from foreign investment and undergoes a major facelift. The new construction boom is underway and will help Beirut regain its former glory. This real estate boom is fueled by expatriates and foreign buyers who have already seen the great potential of this region.
The developers are heading to Beirut.
Damac Properties is investing in the area with a $150 million real estate venture called La Residence, a 27-story luxury tower designed by Ivana Trump. Other developers have also seen the potential and Beirut will offer off-plan investments to investors around the world.
Tourism is expected to increase.
The World Travel and Tourism Council (WTTC) is optimistic about the future of tourism in Lebanon. The Lebanese travel and tourism industry is expected to generate $4.4 billion in revenue in 2006, reaching some $8.7 billion in 2016. The report predicts that the activities of the Lebanese travel and tourism industry will increase 6.2% in 2006 and 4.4% per year, in real terms. , between 2007 and 2016. He added that tourism is expected to grow from 10.9% of Lebanon’s GDP, or $2.4 billion, in 2006 to 14.4%, or $5.5 billion, in 2016. .
Beirut’s education system is impressive.
Beirut has important universities targeted in major Arab countries seeking a certain level of education. The most notable is the American University of Beirut (AUB); others are the Lebanese American University (ALU), Beirut Arab University, and the Lebanese Maronite University. Lebanon is now facing an unprecedented real estate boom with soaring real estate prices.
Beirut nightlife is electric.
Beirut is a festive city with bars and nightclubs open until the early hours. It has an Ibizan and New York social feel, its people show an overwhelming thirst for life. Visitors are spoiled for choice and wealth is in the air with some exclusive places to dine and dance.
Beirut Stock Exchange.
After eleven years of absence, the Beirut Stock Exchange is back with vigor. The stock market is expected to play an important role in attracting investment to Lebanon. The Beirut Stock Exchange is optimistic about the future. Foreign interest in Lebanon has surfaced during meetings with the International Monetary Fund in Madrid.
All real estate investors know that part of your profit is made on the purchase price. Beirut’s low prices and seemingly strong financial future make it a place for foreign investors to consider.
Copyright 2006 Nicolas Marr
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