The construction site of the Mono 95 project along rue Monnot in Beirut's eponymous district. (Credit: Guillaume Boudisseau)
Once absent from the urban skyline, cranes are now reappearing across the streets of Beirut.Some have stood still since 2019, when the country’s financial collapse began, while others have only recently arrived at new construction sites. This resurgence signals the return of real estate developers to the capital, a marked change from the period between late 2019 and 2022, when almost no new projects were initiated.This cautious resurgence in Beirut’s construction sector unfolds within a fragile economic and security landscape. Southern Lebanon has been gripped by deadly clashes between Hezbollah and the Israeli army since October, following the Gaza war. Read also Are regional tensions causing flight prices from Beirut to skyrocket? Any escalation in this conflict could stall real estate activities once again.Last Tuesday, an...
Once absent from the urban skyline, cranes are now reappearing across the streets of Beirut.Some have stood still since 2019, when the country’s financial collapse began, while others have only recently arrived at new construction sites. This resurgence signals the return of real estate developers to the capital, a marked change from the period between late 2019 and 2022, when almost no new projects were initiated.This cautious resurgence in Beirut’s construction sector unfolds within a fragile economic and security landscape. Southern Lebanon has been gripped by deadly clashes between Hezbollah and the Israeli army since October, following the Gaza war. Read also Are regional tensions causing flight prices from Beirut to skyrocket? Any escalation in this conflict could stall real estate activities once again.Last Tuesday, an...
