Realtors to lead
world tour

Roadshow will take the delegation to Africa, Europe, Americas, Australia, and GCC

Developers and property consultants are preparing for a world tour to spread positive news about the state of the local economy and to encourage expatriates to buy property in Lebanon, said the Real Estate Developers Association in Lebanon (REDAL) and Real Estate Property Brokers and Consultants Syndicate (REAL).

Samer Bissat, board member at REDAL, said: “The roadshow is planned for the last quarter of the year.” The countries that will be visited are still under consideration but the delegation will start its tour in Africa. “People living outside Lebanon don’t know that the situation here is not gloomy,” said Bissat. The roadshow will take the delegation to Africa, Europe, Americas, Australia, and the GCC. “The expats are a major catalyst for the local economy,” he said.

“Real estate investments are planned for the long term and not for the short or medium terms, which are witnessing some turbulence. We can either dwell on the situation or be grateful for what we have and make the most of it,” said Bissat.

“We won’t be making these efforts alone. We will seek the support of the Central Bank, banks, contractors, Casino du Liban, and construction traders,” said Massaad Fares, Chairman of REAL.

“Now is the best time for property investment because of the good prices. Our only condition for expats is to resort to REAL brokers, who are committed to a code of ethics that protects consumers,” said Fares.

Other information related to the incentives, facilities, and technical details they will be giving to expats has not been divulged.

Namir Cortas, Chairman of REDAL, said: “Lebanon’s looking good. This is a slogan of trust that we are adopting based on solid facts from international and local references. It is on the verge of a bright future as it is seen as the center of culture and economy in the region,” he said referring to the solid banking sector, resilience of the real estate sector, and its thriving business environment.

Bissat also said that REAL and REDAL are making efforts to create practical and real time indicators that take into consideration the sector’s requirements, which developers look for when starting new projects. The data center will include the prices of square meters in various regions, apartment types and sizes available. “We need to plan, get the right information ready, and disseminate it. The indicators should not only look toward the future but also to the past, to weigh how the market has evolved over the years,” Bissat said.