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Essay / Research Paper Abstract
This 4 page paper examines the property market in Lebanon. This includes the patterns of development, rises in property prices and the average cost of real estate in 2006 as well as looking at the major development companies. The bibliography cites 4 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TElebreal.rtf
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Unformatted sample text from the term paper:
in the past due to the violence in the areas and the resulting harm to property. The property market may be argued as stimulated by the rebuilding of Beirut and
the investors have been attracted by the increased political stability of the area with Lebanon being removed from many of the at risk area lists issues by governments. The country
as a whole is improving at it is argued that the central Beirut area is seen as a litmus test for the entire countrys real estate market (Pepper, 2006).
The rebuilding started with Solidere who had the contract for the rebuilding of Beirut city centre, staring in 1994 (Barnett, 2002). The firm was setup Hariri to oversee the development
of the area. When the contract started the area was said to look like a building site and that the job was immense and unlikely to result in an area
that would attract visitors. By 2002 the area had been transformed into an area with pavement cafes and attractive shops, such as Virgin megastore being created out of the
old opera house. Resident areas such as Saifi are also becoming more popular and properties are selling (Barnett, 2002). This alone is not responsible for the changes in direction of
the real estate market in Lebanon, but it does represent that changes that are being seen, from a war torn country into a sophisticated attractive area where property prices are
increasing. The demand for property in the area has increased at a very fast rate. The Middle East has seen an increase in property prices, and not it is
possible that some of the most costly apartments are located in Beirut. The property process are now an average of US $4,000 a square meter in 2006, this has increased
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