Gulf investors control Beirut real estate market

A recently publicized report by the RAMCO real estate consultants reveals that the real estate market in Lebanon had witnessed an unprecedented demand in 2005, particularly by Gulf investors. As a result, real estate prices in some Beirut's neighborhoods jumped by 50%. Emirates investors controlled 23% of the traded properties in Beirut last year followed by Kuwaitis with 20%, Saudis with 16.5% and Qataris with 6.3%. The Gulf investors together controlled 67.7% of the traded properties in Beirut last year.