imported 2024-03-17 17:43:07
As a company that specializes in construction materials we have a great interest in Lebanon. We have been studying Lebanon with very close observation: the political stability, the security of the economy. The government has assured us that there will be a very healthy budget announced soon.
The Lebanon real estate sector was not affected and there is a real demand in Lebanon real estate. UAE is also productive for the real estate business and we were involved there before we were even involved in Lebanon. When the crisis started Dubai was hurt much more than other countries in the real estate market due to speculation instead of investment.
Sustainability today is a reality, not a luxury and you have to look at the environment seriously in design and construction. We are fully committed to to the concept of sustainability and we’re doing what is humanly possible to move in that direction. Sustainable solutions start at the master planning stage.
We’ve worked in Lebanon construction and world construction for more than 65 years. Tabet Construction worked in very difficult countries and delivered. We are not only present in Lebanon Construction but in the Congo we have four or five projects, and we worked with Turkey and the Indians. Tabet Construction has a strategy and a good staff.
Matta Contracting is a family Lebanese contracting company; one of the biggest and oldest in Lebanon, started more than 60 years ago. The particularity of this Lebanses contracting company is that it stayed in Lebanon, and our priority is Lebanon. We worked in Lebanon during the war, during good times and difficulties. We are happy that we stayed in Lebanon, because now with the boom we’re one of the companies ready to face all of the challenges.
As Quality Construction Company, Lebanon construction company, we are opening offices in new countries. I look forward to see our subsidiary Lebanon Quality Construction Company and Quality Investment Group business plans put to execution and be ready to expand further. We intend to become a significant player in the investment, construction and real estate industry in Lebanon and elsewhere. To do so, we will have to evaluate prospects to sustain our objectives and this could lead us to become public in the future.
Prices are going up in the real estate market depending on the region. However, speculation is scarce since there is a limited availability of land. The market is an end‐user one. The chance to have a bubble is null. The market, the way I see it in five years time will be saturated but healthy.
While in the United Arab Emirates almost every local commercial bank is involved in real estate financing, Kuwaiti banks watched Kuwait real estate and construction sector more critically.
The demand for middle income Kuwait real estate will remain high, according to Alargan’s Khaled Al-Mashaan: “We have the highest growth in population in the world and most of the population is under 25 years old (60%) so the influx of young people coming into the market will be huge for jobs and housing. “
Capital standards report that “the real estate sector in Kuwait experienced unparalleled growth during 2000–2007. Post 2007, however, the performance of the sector has remained lackluster.” The contribution of the sector to GDP in Kuwait has been roughly 3.7%.
